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How do I record a payment or transfer between linked accounts?



  • Jack Walters

    First, where is the Payments in Transit account located?

    I have expenses in my Bank Account that are only located there and others that are also in PayPal. How do I create an account and easily copy entries from a linked account to a regular account which will show all sales and expenses?





  • Doug Levin


    The payments in transit account is in the group "Cash & Cash Equivalents".

    As for your second question, normally you would link both accounts, as the expense transactions that occur in each account can then be automatically downloaded and categorized.  The payments in transit account would not be used to transfer expenses, only to transfer funds from one account to another.  An expense is recorded when the payment to the vendor is made, not when the transfer from one account you own to another in anticipation of the payment.

    This comes up sometimes with credit card payments.  Inexperienced users think they have to detail the payment to the credit card company into the different expenses they're paying, when in fact that's just a transfer.  Instead they should expense the payments made from the credit card - that's when the expense counts.

  • Andrew Alaniz

    Is there a solution for the scenario where I legitimately need to make an expense payment between accounts?


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