One of the better IT advantages you have for using QuickBooks Accounting Software to automate your business transactions is the ease in tracking your money.
In other words, QuickBooks gives you a money management and financial trend information advantage.
For the purpose of the above topic, I will be sharing simple steps to recording money transfers to other bank accounts so that you can effectively track your bank balances accurately with QuickBooks.
When you transfer fund into another account via internet banking or by filling a local transfer form, here are the steps to record it in QuickBooks.
On the QuickBooks menu, click Banking and select Transfer Funds.
A Transfer fund window pops up.
Click Save and Close to save the fund transfer.
When you complete the transaction entries, the bank account balance from which you sent the fund will reduce and receiving bank account increase to reflect the current position of your bank balances.