Aug 12 • 💭 Tips
💡 QBO Tip: How Transfers Really Work 💡
When you move money between accounts, QuickBooks Online records it differently depending on whether the bank is connected to QBO:
🏦 Linked Bank Accounts If both accounts are connected in QBO, the movement of money is recorded as a Transfer. This keeps your books clean—no double-counting and no mystery “expenses.”
🏦 ➡️ 💳 Bank Not Linked in QBO If you send money to an account that isn’t connected, QBO will see it as money leaving your business and record it as an Expense (unless you manually change it).
✅ Why it matters: If a real bank transfer is accidentally recorded as an expense, your profit will look lower than it actually is. This can mess with your cash flow planning and tax estimates.
📊 Tip: Make sure all your business accounts are connected in QBO, or double-check transfers to keep your reports accurate.
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💡 QBO Tip: How Transfers Really Work 💡
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