Recording transfer transactions can be done in a single transaction or part of a split transaction. The primary requirement for recording a transfer is to set the transaction's category to be the category of the other account involved in the transfer, the other account's name in brackets. For example, for a transfer to an account named "Savings" you will set the category to be "[Savings]". The "*Other Account" and former account special categories can be used to indicate a transaction is a transfer if the other account involved isn't setup in the file. You can also assign the transaction type to be "Transfer" and set the payee to be the account receiving the transfer.

Tip: The corresponding transfer transaction in the other account will be generated automatically. When editing one side of a transfer the corresponding transfer transaction will also be updated automatically for common shared values. Deleting one side of a corresponding transfer transaction will also delete the other side. This is a Transactions preference that is on by default.

Note: For transfers between accounts based in different currencies you will have to set the amount explicitly in both transactions in their respective accounts.

Tip: Many times with transfers between accounts based in different currencies the official exchange rate that will be used is not known. It is recommended to flag the transaction in order to be able to easily remember and identify this transaction will need further review.

Note: For reporting purposes, transactions will be considered a transfer if its category is set to an account category or if its transaction type is set to "Transfer".