Moving money from one QB account to another?


R

Richard

Hello!

I have just joined so please excuse me asking a question which may have
already been asked recently.

I am still using V.5, have been since it was released and like it a lot
and have not been convinced that I would benefit from upgrading!
Problem I cannot get my brain around at the moment is this. I have
been operating with just one bank account for the business and recently
opened a second one. OK so I have now made a new bank account in QB
in the same QB file. I have entered a number of payments into the
second bank account and entered them in the second QB bank account.
Now I want to show a move of money from this new account into the
original one to reflect what I have done with the actual bank account if
you follow me....please how do I do it?

Many thanks
 
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A

Allan Martin

Richard said:
Hello!

I have just joined so please excuse me asking a question which may have
already been asked recently.

I am still using V.5, have been since it was released and like it a lot
and have not been convinced that I would benefit from upgrading! Problem I
cannot get my brain around at the moment is this. I have been operating
with just one bank account for the business and recently opened a second
one. OK so I have now made a new bank account in QB in the same QB
file. I have entered a number of payments into the second bank account
and entered them in the second QB bank account. Now I want to show a move
of money from this new account into the original one to reflect what I
have done with the actual bank account if you follow me....please how do I
do it?

How did you physically make the transfer, by check?
 
S

S.M.Serba

I know in version 2000 CAN an on there is a Transfer Funds option under the
Banking menu. Use that...

If there isn't do this:

Journal Entry from the Banking menu.

Debit New Bank account $XX.xx
Credit Old Bank account $XX.xx
To record transfer of funds...

No?


--
Stephanie Wells, AICIA
Partner, Durham Business Outsource
Accounting & Technology
www.dbo.ca
smwells <at> dbo <dot> ca
 
R

Richard

In his posting of Tue, 13 Sep 2005, S.M.Serba writes
I know in version 2000 CAN an on there is a Transfer Funds option under the
Banking menu. Use that...

If there isn't do this:

Journal Entry from the Banking menu.

Debit New Bank account $XX.xx
Credit Old Bank account $XX.xx
To record transfer of funds...

No?
Very many thanks for the advise. My apologies for not having thanked
you earlier but I have been away for a few days. I will give your
suggestions a go shortly.

Thanks again for your help.

Cheers
 
R

Richard

In his posting of Tue, 13 Sep 2005, Allan Martin writes
Richard said:
Hello!

I have just joined so please excuse me asking a question which may have
already been asked recently.

I am still using V.5, have been since it was released and like it a lot
and have not been convinced that I would benefit from upgrading! Problem I
cannot get my brain around at the moment is this. I have been operating
with just one bank account for the business and recently opened a second
one. OK so I have now made a new bank account in QB in the same QB
file. I have entered a number of payments into the second bank account
and entered them in the second QB bank account. Now I want to show a move
of money from this new account into the original one to reflect what I
have done with the actual bank account if you follow me....please how do I
do it?

How did you physically make the transfer, by check?
Many thanks
Dear Allan

Just spotted your reply...sorry for the delay in replying.

OK I have been running the business using one high street bank account
and in QB had just the one bank account. Now I have opened an
additional high street bank account into which I have been paying in
cheques for a new part of the business, and have opened an additional
bank account for this in the same file in QB.

Every so often when the funds built up in this second high street bank
account I want to write out a cheque from that account to move funds
across into my original high street bank account, and naturally I want
to show this transfer of funds from my second QB bank account into my
original QB bank account.

Thanks
 
A

Allan Martin

Richard said:
In his posting of Tue, 13 Sep 2005, Allan Martin writes
How did you physically make the transfer, by check?


Dear Allan

Just spotted your reply...sorry for the delay in replying.

OK I have been running the business using one high street bank account and
in QB had just the one bank account. Now I have opened an additional high
street bank account into which I have been paying in cheques for a new
part of the business, and have opened an additional bank account for this
in the same file in QB.

Every so often when the funds built up in this second high street bank
account I want to write out a cheque from that account to move funds
across into my original high street bank account, and naturally I want to
show this transfer of funds from my second QB bank account into my
original QB bank account.

Thanks

Then just record the check and code the account to the other bank.
 
R

Richard

In his posting of Wed, 14 Sep 2005, Allan Martin writes
snip
Then just record the check and code the account to the other bank.
Dear Allan

Thanks but can you take me over that a bit more slowly please<G>

Cheers
 
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J

John

S L O W L Y

Write a check to yourself (our your company) from the one checking
account, and, in the Account Column of the check (you have to assign
an account) use the checking account you want to transfer the money
to.

Very Simple



Then just record the check and code the account to the other bank.
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