How to record a bank transfer between accounts

I’m not too sure how to record the bank transactions for transferal of money from one account to another within the same business records. It is currently still showing up in the suspense account. It doesn’t seem to fit in any of the account names. I know it won’t affect the Profit and Loss in any way. Am I missing something simple? Thanks in advance, Caitlin.

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I have added an equity account called “inter account transfers”. My check that I’ve got all the transfers correct is having a zero balance in the inter account transfer account.

You don’t need inter-account transfers. Just select an account, click on the blue balance figure, click Transfer Money, and complete what appears.

Hi @Caitlin,
Lubos posted the following re transfers:

"There are two ways to record bank transfers. One way is to use Transfer money button which will debit one account and credit other account.

However, if you are importing transactions, it’s better to have an account called Inter-account transfers and then categorize all transfers between bank accounts to this account.

The balance of this account should always come to zero."

I import bank transactions so I do the same as @stuguru and use Inter-account transfers.
If you search the forum using ‘Inter-account transfers’ you’ll find some more info.

If you are doing the bank transfer via Online, then use Bank Transfer, not Spend Money
If you are doing the bank transfer via Cheque, then for the paying Bank - Spend Money and allocate to inter-account transfers and for the depositing Bank - Receive Money and allocate to inter-account transfers.

If you are going to be using import bank statement (with or without bank rules) you will need to either

  1. use the Cheque method for the Online transfers, or
  2. delete from the imported bank statement transactions the Bank Transfer Online transaction

I dont know if I am missing something but I dont hae a transfer button

When I click on the blue balance I get a dropdown box with only give the options for Spend Money or Receive Money

Should I have enabled something somewhere?


Money Transfer is now a separate function. Go to Customise (under Settings) and tick “Inter Account Transfer” near the top and then scroll to the bottom and click Update.

You were reading posts more than a year and half old. Much has changed since then. Be sure your software is up to date before looking for Inter Account Transfer tab. See this Guide: Manager Cloud.


Sorry I was trying to use the already answered questions before posting the same one over again.

I have the latest version of Manager ( 2 weeks old) and I ticked the "Inter Account Transfer) and update and I still dont see the transfer option. Do I need to restart Manager to get it to work?

I still only have spend and receive options

You need to select the Inter Account Transfer tab on the Left Hand Side then “New …” , just like you would select Bank Transaction, Purchase Invoice tabs first.

Transfers are now separated from Receive / Spend Money.

Fabulous Got it thanks for your help