How to transfer money between bank accounts

How to move, delete, and reverse money transfers between bank accounts in Sage Accounting. Use these steps to pay a credit card balance off.

To transfer funds between bank accounts 

1. Go to Banking, Bank Accounts.
2. On the New menu, click Bank Transfer.
3. Complete the following information:

   Paid from Bank Account *	Choose the bank account you want to transfer funds from.
   Paid into Bank Account *	Choose the bank account you want to transfer the funds to.
   Method	Select the payment method.
   Amount Transferred *	Enter the amount to transfer.
   Date Transferred *	Enter the transfer date.
   Reference (optional)	Enter a reference for the transfer, if needed.
   Description	Enter a description for the transfer, if needed.

   * Indicates a required field.

4. Select Attachment and drag the file to Upload files or browse to it.
5. Click Save.

You can also create a money transfer from within the bank account. On the New Entry menu, click Money Transfer.

To delete a money transfer

If you transferred money between bank accounts incorrectly, you can delete it and re-enter it with the correct details.

1. Go to Banking, Bank Accounts.
2. Select either of the bank accounts used for the transfer.
3. On the Activity tab, select the checkbox next to the money transfer.
4. Click Delete.
5. Click Yes.

If you have many transactions, enter dates in the From and To fields to filter bank activity by date. Use the Filter option to show specific transaction types.

To reverse a money transfer

1. Go to Banking, Bank Accounts.
2. On the New menu, click Bank Transfer.
3. Complete the following information:
   

   Paid from Bank Account	Choose the bank account you originally transferred the money to.
   Paid into Bank Account	Choose the bank account you originally transferred the money from.
   Method	Select the payment method.
   Amount Transferred	Enter the amount to transfer back to the original account.
   Date Transferred	Enter the date used for the original transfer.
   Your Reference (optional)	Enter a reference for the transfer, if needed.
   Description	Enter a description for the transfer, if needed.

4. Click Save.

You have successfully reversed the original money transfer and can re-enter it with the correct details, if applicable.