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Junior Member
Group: Forum Members
Last Login: 11/10/2008 8:51:43 PM
Posts: 2,
Visits: 28
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How do I enter transfers of monies between my high yield super bank a/c and the primary super cheque a/c. The bulk of money is held in the high yielding a/c and money is transferred into the cheque a/c to purchase shares etc.
Regards,
Nejamaka
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MySF Administrator
Group: Administrators
Last Login: 4/11/2010 3:24:01 PM
Posts: 464,
Visits: 633
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Hi,
The best way to record a transfer between to accounts is to record the transfer using a general journal (Menu: Cash & Journal Processing > Journal Processing) for the day of the transfer.
The lines in the the journal should be:
DR Bank Account Transferred To $amount
CR Bank Account Transferred From $amount
Please let us know if you would like any further assistance with this.
Regards,
MySF
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