How do I transfer funds between accounts?
When you want to move money from one account to another, use a transfer transaction:
- Create a transaction and set its type to "Transfer." Enter the date, payee, memo, and amount of money to be transfered.
- Click the arrow in the category field, scroll to the bottom of the drop-down list, and look for the name of the account to which you want to transfer the money. The account will have a '•' symbol before its name, indicating that it is available as a destination account for a transfer.
- A new transaction will automatically appear in the account to which you are transfering the money, with the same transaction details as the original (except for the amount, which will be opposite to the original).
- The two transactions are now linked: changing the details of one will update the other automatically and deleting one will delete the other. The only exception to this linkage is the exchange rate, which can be applied independently to each side of the transfer.
Transfer transactions use the category field to indicate the destination account for the transfer. If the category for a particular transaction begins with the '•' character, it is a transfer. These "categories" are considered a special case and are not displayed in the main category list, but can be used in charts, budgets and smart accounts like other categories.