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How to enter a transfer between accounts in Moneydance

Angie Rauscher -

Transfers between accounts are very common; credit card bills, transfers to your savings account, funding your IRA, or simply switching banks, transfer transactions are everywhere. 

Entering a transfer transaction is easy; simply enter the "other" account in the category field.  In this example we're entering a credit card payment of $500 from a checking account, but the process is similar for most account transfers. 

  1. Open the register of the checking account.
  2. Enter the desired date, description, memo, and other information.  You may enter Xfr in the Check# field, but this is not necessary to enter a transfer transaction.
  3. Enter the transfer amount.  A payment from the checking account will appear as a payment (reducing your debt) in the credit card account.
  4. Hit Enter to record the payment in your register, which will look like the image below.

 

Loan account transfers are slightly more complex due to principle/interest split; for details on working with loans please see Chapter 8 of the Moneydance user guide for more details.

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