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How do I transfer money between bank accounts?

Zenya Allen
Zenya Allen
  • Updated

The steps below show you how you can replicate the transfer of money from one account to another, for example, from your client account to your deposit account, which will match the real time transactions on your bank statement and show on your Bank Reconciliation.

 Note

  • Source Account - This is the account in which the money is currently located
  • Destination Account - This is the account in which you are transferring money in to

This article includes: 

Transfer money in and out 

  1. Click Postings on the main toolbar
  2. Click Bank Transfer from the dropdown menu
  3. Source Account
    1. Click the box next to Account. Search for the account where the money is currently located. If you select incorrectly, click the ... dots to search again 
    2. Transfer From - Select a date range to filter the transactions further
  4. Destination Account
    1.  Click the ... dots to locate the Account you are to Transfer Money In 
  5. Basic tab
    1. Transaction Type - Leave as All or use the dropdown menu to filter by a specific transaction, i.e. Deposit
  6. Advanced tab 
    1. You will be able to select and filter a specific Landlord/Property/Tenancy and their transactions
  7. Tick Reqd to select items in the list which you have transferred through your online banking
  8. The Transfer Date can be updated if required 
  9. Reference can be edited if required and will be seen on your Bank Reconciliation
  10. Click Update

The transfer appears on the Debit and Credit columns of the respective accounts to which you have made the transfer.
For more information on Bank Reconciliation, click here

 Note

Transactions that appear in red signify the transaction hasn't passed its designated clearance period. However, they will still be available to transfer. Those which appear in white, are cleared

Restricted accounts

  • Restricted accounts - Only allow Overseas Tax and Deposit money to be transferred in or out of them
  • Unrestricted accounts - Will allow all money types to be transferred

There is a tick box on your Bank Information to identify if your account is Restricted or not. 

  1. Double click Bank Account on the side menu
  2. Select the Bank Account which your rent money gets paid into
  3. Above the Branch Address is a tick box - Restricted Access
    • Ticked - Restricted Access
    • Unticked - Unrestricted Access

 Note

If you are on the Bank Information screen, you can click on either Transfer In or Transfer Out, to navigate you to the same place as when going to Postings and selecting Bank Account