Quickbooks Desktop Tutorial - How to Transfer Funds Between Accounts

Quickbooks Desktop tutorial, how to transfer funds between accounts shows you the 2 most common ways to transfer funds between accounts in Quickbooks Desktop.

Crazy that the most common mistake people make in transferring funds is duplicating their revenue, so they end up thinking their business is doing better than it really is. Don't make this mistake and learn how to transfer funds in Quickbooks Desktop the right way.

And hey, it really is this fun to learn Quickbooks when you learn with The Quickbooks University - easy to follow tutorials that get you on the right track.

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Be sure to LIKE and SUBSCRIBE...and leave your comments and questions here!

[mrubio]

My goodness this was so easy, I made it more difficult in my head, thank you for educating me. So appreciate it.

[graceyim]

Thank you and have a nice day. You have lifted a big weight off my chest. Sending you a lot of ❤.

[joseserrano]

I am so glad we run into these videos. The information is so helpful. Thank you

[surfacesystems]

Very helpful. Thank you for this video. I need to follow you since I have many Desktop issues that come up.

[Mrsdevsgirl]

I always come back to your videos to learn. Thank you.

[malfred]

Thank you so much. You make this so easy!

[Socheatkhusa]

Thank you for the lesson. you help me solved a lot of issues.

[MindySirkis]

straightforward and helpful. Thank you

[eroses]

Your videos have been so helpful!! I am a newly appointed secretary in a church and was given instructions by the out going lady, however there is so much she did not cover. Currently I need help with an account number for a person's paycheck. The number is not correct and it keeps recording in the wrong place. I watched you video on transferring funds and will work on that, however how do I correct the entry in payroll so the check is recorded corrected. Thank you so very much!!!

[g.w.]

Great lesson! How do you record this in QB Desktop?

Scenario #1:
Business receives a loan. Funds are transferred from the business loan to the business owner's personal bank (owners draw)? Are the funds that are transferred to the business owner's personal bank categorized as an Owners Distribution (assuming funds will not be paid back to the business). I'm assuming these funds transferred to business owners personal bank account will have to pay taxes on that at the end of the year, correct?

Scenario #2:
What if the funds transferred from the business loan to the business owner's personal bank account is used to pay back the business owners personal out of pocket contributions to the business?

[terrimcmullen]

Thank you for your videos! They are well done and so easy to understand.
We are a preschool that awards scholarships. The "fiscal budget" allocates a certain amount to be used for this. The person before me set up a fund under the main checking account in the Register to track the balance available. How do I place each year's allocated funds into the Scholarship Fund without looking like we had a deposit in the main checking account?

[joserossman]

Thanks for your video. Would this also apply to when you transfer balances from one credit card to a new credit card? Would I just set up the new credit card in quickbooks and then transfer? Thanks.

[kathygism]

Do you have a video on transfer fund between two company files? Thank you very much for your videos :)

[joemcguire]

Thanks for your amazing material. Quick question: Do you provide 1/1 consultation services? (via video call) I just started a bookkeeping business, and I don't want to make mistakes with my first client. My transfers are not clear on the balance sheet I need help with that. Thanks

[AnnNaimark]

Thank you so much for this video. Does this method transfer money from your bank in real time or the transfer only happens in quickbooks? I want to transfer money in real time from my savings to checking. How should I do that ? Also how long does the transfer take if its possible to do it ? Thank you

[FavoritePeacock]

Thank you for this video! Would this technique work for transferring money from an investment CD that ended (6 month CD) to the new CD that opened?

[AbbyKnight-lu]

Thank you for this video! Very helpful on making the banking transfer. However, I am unsure on how to direct the funds into a specific class once I've received them into the correct account. I followed your directions to add the class in the "banking transfer" but it is not showing in that class. Help! Thanks. We do EVERYTHING by class.

[norcellynekabongo]

Thank you so much, i would like to know if it s possible to transfer funds from one class to another. If yes, how can i do that

[whitneyanuwe]

Thank you so much for your video! This was exactly what I needed. I am not familiar with QBD like QBO where you can easily record a transfer from the bank feed and then it matches to the transfer transaction that was already in the bank feed. So if I create a transfer fund as you've shown in the recommended way is there another step I need to take care of, such as matching to the transfer transactions in the bank feed of each account being transferred, after making that transfer of funds? I hope this is clear enough. When I open my bank feeds I have transactions that are coming in from the bank statements and say "transfer from account 1234 to 5678". Do these get matched to the transfer funds we create, or what happens to them? That is what I'm not clear about.