How to record allocation of some money to a new company bank account?

Question

I moved a chunk of money from the company&rsquo;s bank account into a new, interest-bearing account. The new account is also in the company&rsquo;s name. 
 The transfer is automatically recorded as a transaction. How should I record it, and what do I need to to be able to complete a bank reconciliation?

Andy Rickeard · Answer

Hi PNPH, Thanks for using Community Hub. I would suggest adding the new bank account in Sage and then transferring the money over. 
 This article explains how to create a new bank account: Create a new bank record > bank reconciliation will be available in the new record so long as you don't select the "No Bank Reconciliation" check-box. This article explains how to Bank Transfer: Transfer money between bank accounts > If this helps, please click Verify Answer . Regards, Andy Sage UKI

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How to record allocation of some money to a new company bank account?

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