Transfer from external account to savings account

I have a joint savings account and money gets transfered to that account from an external account and I am not sure how best to handle these transfers. They don’t really fall under any given category, but since they come from an external account the transfers don’t have net 0 change across my accounts. Any thoughts on how best to handle this?

Hi @fost9508,
I assume you want to classify these transactions as Transfers types, not Income or Expenses.

When the Transfers automatically appear in your Savings Account, you could give them the Category “External Transfer” or the name of the account that you are transferring from. This would have a Transfer type so it wouldn’t appear as Income or Expense.

Regarding the net 0 transfer, here are two ways to handle it:

  1. Just accept that its not a net 0 transfer. When you sum the category you will have the total of the amount transferred. That might be a useful money to know; how much you transferred. Since it is a Transfer type, I won’t impact your Net Income, Income or Expenses.

  2. If you want to make it a net 0 transfer, you can create a new Manual Account for the External Account. Then you see a transfer from the External Account to your Savings Account, create an opposite manual transaction in the new Manual Account with the same Category. That will get the Category to net back to 0.

Here’s some info on using Manual Accounts:

You could decide whether you wanted to Hide this new Manual Account from reports in the Accounts tab.

Would either of those options work?


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