banking

How can I categorize and match transfer fund transactions between two accounts?

When you transfer money from one account to another account, say from Business Checking to Business Saving, it is a withdrawal in Business Checking and a Deposit in Business Saving. In Zoho Books, under the Uncategorized Transactions tab, you’ll find a Withdrawal bank feed in the Business Checking account and a Deposit bank feed in the Business Saving account. To avoid duplicates, reconcile the two transactions by following the steps mentioned below or the GIF.

  • Navigate to the Banking module, select the account from which the money was transferred.
  • Go to the Uncategorized Transactions tab and select the Withdrawal bank feed from the list of uncategorized transactions.
  • Select the Categorize Manually option on the right side.
  • Select the Transfer To Another Account in the Category section.
  • Select the account to which the money was transferred and fill in the other information.
  • Click Save and this transaction will be categorized.

Immediately, a manually added transaction will be automatically created in the other account to which the money had been sent. Now, navigate to the other account to which the amount was transferred.

  • Go to the Uncategorized Transactions tab and select the Deposit bank feed.
  • Find the categorized transaction from the list of Possible Matches on the right side and select it.
  • Click Match and the uncategorized transaction will be categorized.
  • Also, the manually added transaction which was automatically created will be matched.

Sort your invoices

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