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In addition to categories and subcategories to indicate where moneys are dispersed or deposited, Transfers can also be used to do the same. A transfer is not a category, but acts like one. The transfers are really your accounts as shown here. Note that a transfer is always enclosed in brackets.


A transfer is handy because you can create several transactions in one step. For example, suppose you have set-up two accounts from the Checkbook Account Menu: 1) a bank checking account named Hurricane Bank and 2) a savings account named Savings Account. If you post a check in the Hurricane Bank checkbook register payable to the savings account, you can have the amount posted automatically to the Checkbook Register of the Savings Account as deposit. To do this, you simply add the check to the Hurricane Bank register and select [Savings Account] for the category. This creates a second transaction which will be placed in the Checkbook Register of the Savings Account with a category showing that it came from [Hurricane Bank]. To see this second transaction, click Accounts from the top of the Hurricane Bank register, select the Savings Account, and in the Savings Account register, find the new transaction that shows the transfer from Hurricane Bank.

Another important use of the transfer concept is in handling payroll. For example, you pay someone $1000.00 gross salary on the 15th of the month; make out the check for $773.50 because you have to deduct withholding and FICA from the check and pay that to the government at the end of the month. In addition, you have to pay a matching FICA contribution from the company. This is perfect for the transfer concept. You will enter one $773.50 check payment in the Hurricane Bank register, and it can automatically create three new transactions, one in each of three transfer liability accounts: Payroll - FWH, Payroll - FICA, and Payroll - MED. Click
Payroll to see a specific example in detail.