How do I record a transfer between bank accounts in Kontuly?
In Kontuly's Banking screen, click Transfer on the unassigned line and choose the other bank account. Moving money between your own accounts, such as savings to cheque or paying off the business credit card, isn't income or an expense, and carries no GST.
- Click Transfer on the unassigned line. The button appears once you have more than one bank account; a credit card counts.
- Choose the other account under To bank account (money out) or From bank account (money in).
- Choose how to record it:
- Record the transfer now, if you haven't imported the other account's statement yet.
- A line under Pair with a line on the other account, if you have. Kontuly lists that account's unassigned lines for the same amount within 14 days. Pairing records one transfer for both lines.
- A line under Already recorded from the other account, if you recorded the transfer from the other side first. This posts nothing.
- Click Record transfer.
The row shows Transfer to … or Transfer from ….
Won't the other account's line be counted twice?
No, as long as you link it. When you later import the other statement, use Transfer on its matching line and choose it under Already recorded from the other account. Coding that line to the bank account (by hand, in bulk or with a rule) also links it to the transfer already recorded, closest date first.
Can a bank rule record transfers?
Yes. A rule can assign to another bank account, for example PAYMENT TO CARD to the credit card, and its lines are recorded as transfers. A rule never pairs with a line still waiting for review on the other account, because that could be something else for the same amount; pair those yourself. See How do bank rules work?
How do I undo a transfer?
Click Unassign (reverse) on either line. On the line that recorded it, the transfer is reversed and the other account's line goes back to the review list too. On a line that was paired or linked, only that line is unlinked.
Accounts in different currencies
Pair the line with the other account's line once that statement is imported, and the two amounts give the exchange rate. Until then, enter the amount on the other account yourself.
Related questions
- How do I add a credit card or another bank account in Kontuly?Add a bank account, credit card, PayPal balance or petty cash tin in Kontuly by ticking "This is a bank / cash account" on an account in the Chart of Accounts.
- How do bank rules automatically code transactions in Kontuly?Set up bank rules in Kontuly so rent, phone bills and bank fees are coded automatically when you import a statement, and run them over waiting lines.
- How do I code bank transactions in Kontuly?Code each bank line in Kontuly's Banking screen by choosing an account in its Assign to column. GST is split out for you, and you can code many lines at once.
More about banking and reconciliation
- Does Kontuly connect to my bank with bank feeds?Kontuly has no bank feeds. You import CSV or PDF statements from your internet banking, so your banking login never leaves your hands.
- How do I import a bank statement CSV into Kontuly?Download a CSV statement from your internet banking, choose the account in Kontuly's Banking screen, click CSV and check the columns before importing.
- Can Kontuly import a PDF bank statement?Kontuly can read transactions out of a PDF bank statement, then shows every row for you to check before importing. CSV is still more reliable.
- How do I split a bank transaction across accounts in Kontuly?Split one bank line across several accounts and GST rates in Kontuly, for part-private purchases, mixed GST-free items or a bill covering more than one cost.
- How do I match a bank payment to an invoice or bill in Kontuly?Match money in to a customer's invoice, or money out to a supplier's bill, on Kontuly's Banking screen, including one payment covering several invoices.