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If you've transferred money from one bank account to another (for example, from your cheque account to your credit card account), you can make a record of this transfer in MYOB Essentials from the Transfer between accounts page (accessible from the Banking menu).
If you need to transfer money between other account types (not bank or credit card), record a general journal entry.
To record a transfer between accounts
- From the Banking menu, choose Transfer funds. The Transfer between accounts page appears.
- Make sure that the date is correct. If not, enter a new date in the Date field, or click the icon next to it to display the calendar.
Make sure that the reference number is correct. If not, enter a new reference number in the Ref.No. field.
Changing the numbering
If you change the reference number, you’ll change the automatic numbering. For example, if you change the number to TR000081, the next time you transfer money, MYOB Essentials will display the new reference number as TR000082.
- Enter the transfer Amount.
- From the Transfer from list, select the account that the funds are being taken from. The current Balance for the selected account appears on the right.
- From the Transfer to list, select the account that is receiving the funds. The current Balance for the selected account appears on the right.
- If you want, add a description about the transfer in the Notes field.
- Click Save to transfer the money.
To delete a transfer between accounts
- From the Banking menu, choose Transaction history. The Transaction history page appears.
- In the Account list, select the bank account from which the Transfer Funds transaction was paid, or select All bank accounts.
- Find the the Transfer Funds transaction that you want to delete. If you’re having trouble finding the transaction, try adjusting the date range shown in the From and To fields.
- Click the transaction link (in the Reference column) for the transaction to be deleted. The Transfer Between Accounts page appears, showing the transaction details.
- Click Delete at the bottom of the page. A confirmation message appears.
- Click Yes to delete the transaction. The Transaction History page reappears.