Transfer money between your own accounts
A bank transfer records money moving between two of your own accounts — topping up petty cash from the current account, moving a surplus to savings, paying down the company credit card. It is one transaction that adjusts both balances, touches no income or expense, and can be matched against both banks' statements.
Before you begin
- You need the view chart of accounts permission to see transfers and manage chart of accounts to record or void them.
- Both accounts must already exist under Bank Accounts and must use the same currency — a transfer between accounts in different currencies is not supported yet, because the receiving side would need the bank's own settled amount. Sales Scribe refuses rather than guessing a rate.
- Transfers post immediately with a sequential BT- number; undo by voiding.
Record a transfer
- Go to Banking → Transfers and choose Record Transfer.
- Pick the From Account and To Account (they must differ), the Date and the Amount.
- Optionally add a Reference (e.g. the bank's transfer reference — it helps when reconciling) and Notes.
- If both accounts are held in a foreign currency, an Exchange Rate to Functional Currency field appears, prefilled with the latest stored rate for the transfer date — the two ledger postings always carry the same functional value, so a transfer can never create an exchange difference.
- Save. The transfer posts at once: money out of the source account, money into the destination.
What it does in your books
One balanced journal — debit the destination bank's ledger account, credit the source's. Both bank balances update together and nothing touches your Profit & Loss or VAT — moving your own money is not income or expense.
Transfers and bank reconciliation
A single transfer shows up on two bank statements: money out on the source bank and money in on the destination. On each account's reconcile screen the transfer is offered as a match candidate for that account's own line — so one transfer legitimately matches two statement lines, one per account, and never two lines on the same account.
Undo a transfer
Open it from the Transfers list and choose Void, giving a reason. A reversing journal is posted, both balances return, and the original stays visible with its history.