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This QuickTips deals with transferring funds from one bank account to
another. This tip will work with any version of QuickBooks.
If you write an actual check to transfer the
money from your checking account to another account, make sure you
choose the account you are depositing to as the expense account. Do not
choose an expense account.
If you perform this step incorrectly it will
result in an inaccurate Profit & Loss statement. While your bank
balances will be correct, your income and expenses will not reflect the
Alternatively, if you are not writing a literal
check and instead transferring the funds on line, do not go to the
write check window. Instead select "Transfer Funds" from the "Banking"
menu to enter the transfer. Enter the correct
information and click "Save & Close". Your bank account will
automatically adjusted to reflect the amount transferred.
QuickTips from the video:
If you want to get hands on training about QuickBooks attend Gregg Bossen's seminars. Register
here for 10/02 in Asheville, NC or 10/03 in Raleigh, NC.
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