Bank Transfers

Record transfers between your bank accounts.

Overview

Bank transfers move money between two bank accounts within your organisation. Each transfer records a credit from the source account and a debit to the destination account, keeping your books balanced.

Key characteristics:

  • Internal only — Transfers move money between your own bank accounts, not to external parties.
  • Double-entry — Each transfer creates two transactions: a credit (money out) and a debit (money in).
  • Reconciliation-ready — Transfers automatically create remittance records for bank reconciliation.
  • Auto-titled — The transfer title is generated from the source and destination account names.

Creating a Bank Transfer

Click New Transfer from the bank transfers page or from within a reconciliation.

Fields

Field Required Description
From Account Yes The source bank account (money leaves this account).
To Account Yes The destination bank account (money enters this account).
Amount Yes The amount to transfer.
Date Yes The date of the transfer.

Validation

The source and destination accounts must be different. You cannot transfer money to the same account.

How Transfers Work

When a bank transfer is saved, the system creates:

  1. Two transaction groups — A "From Account" group and a "To Account" group.
  2. Two transactions — A credit on the source account and a debit on the destination account.
  3. Two remittances — One for each bank account, used during reconciliation to match against bank statement line items.

The transfer total reflects the amount moved (not the sum of both sides).

Editing & Deleting

Editing

Click a bank transfer to edit its details. You can change the amount, date, accounts, and notes. Editing a transfer updates the underlying transactions and remittances.

Deleting

Click the delete icon to remove a bank transfer. This also removes the associated transactions and remittances.

Reconciliation

Bank transfers create remittances that appear during bank reconciliation. A transfer is considered fully reconciled only when both remittances (source and destination) have been confirmed in their respective reconciliation periods.

Filtering

The bank transfers list supports date range filtering to narrow down transfers by period.

How-to Guides

Create a Bank Transfer

  1. Navigate to Money > Bank Transfers
  2. Click New Bank Transfer
  3. Enter: amount, date, source account, destination account, and an optional note
  4. Click Save

Note: Only active bank accounts are shown. Manage your bank accounts via Settings > Chart of Accounts.

Permissions by Role

Action Owner Super Admin Admin Accountant General Client
Create transfers Yes Yes No Yes No No
Edit transfers Yes Yes No Yes No No
Delete transfers Yes Yes No Yes No No
View transfers Yes Yes No Yes No No

Key Notes

  • Admins cannot manage bank transfers. This is an accounting-level feature.
  • Accountants have full access to bank transfer management.
  • General Users, Contractors, and Clients cannot access bank transfers.
  • Bank transfer creation requires an active subscription with accounting access.