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Handling Bank to Bank Transfers Correctly

FINSYNC users should be careful when accounting for transfers between two synced bank accounts. If not, the bank account and reporting may get out of sync because of double counts.

In this example, we're transferring $10,000 from an operating account to a payroll account (both synced to FINSYNC).

1.  Be sure the transaction has been imported on both accounts before attempting to match them. The amounts should be identical with one being a Deposit and the other being a Withdrawal

2.  Find the Deposit transaction on the payroll account and use the dropdown arrow on the far right to choose Match with Transfer.

Note: You can initiate the match from the other account as well by finding the Withdrawal


3. Use the dropdown to select the bank account where the payment transaction happened.


4. The system will now display any unmatched transactions of the same amount on that account. Click the row of the correct transaction.

Note: You can usually identify the correct transaction by matching the dates.


5. The row will turn black and you should now click Save.


You have now properly accounted for the transfer between your two bank accounts and your reports should reflect it correctly!

You can verify that the transaction is Matched by expanding the row to see the Matched with Transfer indicator.