Transfer Between Accounts

Transfer Between Accounts

Use a Transfer to move money between two of your own accounts (for example, from checking into savings) without it being counted as spending or income.

Steps

1. Select Add Transaction and choose the Transfer tab.
2. Choose a From Account and a To Account; they must be different accounts.
3. Enter the Amount, Date, and an optional Memo.
4. Review the before/after balances for both accounts in the Transfer Summary panel.
5. Select Save Transfer.

Notes

• A transfer is really two linked entries (one leaving the From account, one arriving in the To account) kept in sync automatically. Editing or deleting a transfer updates or removes both sides together. See Edit a Transaction and Delete a Transaction.
• Transfers never use an Envelope and don’t affect your budget categories, since no money is actually being spent or earned.
• A transfer can’t move money from an account to itself.

Tips

• Moving money to build up savings? Use a Transfer instead of an Expense so it doesn’t show up as spending in your reports.
• Paying off a credit card from checking? A Transfer correctly reduces the credit card’s balance without inflating your Expense totals for the month.

Common Mistakes

• Recording a transfer as an Expense on one account and an Income on the other. This double-counts the movement in your reports; always use the Transfer tab instead.
• Expecting a transfer to affect an envelope. Transfers move money between accounts, not between budget categories, so envelope balances only change from Expense transactions.

Next Steps

Learn how Expense and Income transactions differ in Add a Transaction, or see how envelopes track spending in Envelopes.