Record Transfers Between Accounts
Detect and match transfers between accounts automatically.
Record Transfers Between Accounts
Match and record transfers between your client's bank accounts. Propio can automatically detect potential transfers and help you match them.
Overview
When your client moves money between their own bank accounts, both the outgoing and incoming transactions need to be recorded as a transfer rather than an expense or income. Propio helps you identify and match these transfer transactions across accounts, ensuring they are recorded correctly in the books and don't inflate your client's revenue or expenses.
Steps
1. Navigate to Transactions
Open your client's dashboard and click on Transactions in the left sidebar. You'll see the full list of transactions across all connected bank accounts.
2. Look for Transfer Indicators
Propio can automatically detect potential transfers between accounts. Look for transfer indicators or suggestions on transactions that match typical transfer patterns — such as matching amounts on similar dates across different accounts. These indicators help you quickly identify transactions that may need to be recorded as transfers.
3. Select the Transaction
Click on the transaction you want to record as a transfer to open the transaction detail panel. This is typically the outgoing (debit) transaction from one account.
4. Choose the Transfer Action
In the transaction detail panel, select the Transfer action. This tells Propio that this transaction represents money moving between your client's own accounts rather than an external payment or receipt.
5. Match with the Corresponding Transaction
Propio will display a list of potential matching transactions from the client's other bank accounts. These are filtered to show transactions with similar amounts and dates. Select the corresponding transaction (the incoming deposit in the other account) to create the match. If the matching transaction doesn't appear automatically, you can search for it by date or amount.
6. Confirm the Transfer
Review the matched pair of transactions to make sure the amounts and dates align correctly. Click Confirm to record the transfer. Both transactions will now be linked and categorized as a transfer, and they will be excluded from income and expense totals in your client's reports.
Summary
Recording transfers correctly is essential for accurate bookkeeping. By matching outgoing and incoming transactions across your client's bank accounts, you ensure that internal money movements are properly reflected in the books without distorting income or expense figures. Propio's automatic transfer detection makes it easy to identify and match these transactions quickly.