New Account Transfer
You can use this function to move money between bank accounts. The bank transfer function effectively creates an expense record and income record in one step, and links the two transactions together. You might use this to move money from your EFTPOS clearing account to your main back account on settlement, or perhaps to record your regular payments towards a credit card or load account.
Create a new account transfer
Navigate to Banking > New Account Transfer
The account you are moving money from.
This field defines the Expenditure account (expense reason) for the expense in question. You can configure Expenditure accounts under Setup > Income & Expenditure Accounts.
For more info on expenditure accounts: Income and Expenditure Accounts
The account you are moving money to.
This field defines the Income account (income reason) for the income in question. You can configure Income accounts under Setup > Income & Expenditure Accounts.
For more info on income accounts: Income and Expenditure Accounts
Income & Expenditure Accounts that are of the Account Type "Account Transfer" do not actually show as an income or expense in accounting reports.