Transfer from one bank acct to another

Sage 50 Accounting - Canadian Edition

Sage 50 Accounting - Canadian Edition
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Transfer from one bank acct to another

  • Hello,

    I'm just learning Simply, so I'm sorry if this is the wrong area to post this question...

    I am doing some bank reconciliations and I'm not sure how to post cheques that were written from one bank account to be deposited into another. These are recs from 2007 (don't ask), so the cheques were hand written, ie. no record of them in the program that was being used before the company transferred to Simply, earlier this year.

    I hope this post makes sense, please let me know if you need more information to help.

    Thanks,
    arereb

  • Firstly, I assume that each bank account has it's own account number in your Chart of Accounts.  If not, that's the first step.  Set up two accounts each with their own account number.  Should be in the 1000 - 1999 range for Assets.

    After that, the entry is simple.  You can use the 'Transfer Funds' utility on the Banking home page or simply post a journal entry...DR the account where the money as deposited and CR the account upon which the cheque was written.