If you have multiple bank or credit card accounts in Pandle, you may need to process a transfer from one account to the other. You can do this by selecting the other bank account as the category whilst confirming your bank transactions.
This article includes:
Processing a bank transfer using manual entry
In our example we deposit £500 cash into our NatWest bank account, and enter the transaction into Pandle manually.
In the 'Type' column select 'Money Out'. Then to show it as a transfer between accounts, go to the 'Category' column, and select 'NatWest'. This shows that the transaction leaves our cash account, and enters our NatWest account.
Reduce the balance of your cash account balance in Pandle by £500
Increase the balance of your NatWest account in Pandle by £500
Important: To avoid duplicating information in your bookkeeping, you should process transfers by entering the transaction into only one account in Pandle.
For example, by entering the 'Money Out' transaction in the account that you take the transfer out of. You do not need to enter the corresponding 'Money In' transaction into the account which receives the transfer.
This is because the corresponding transaction will automatically show in your other account, so entering it again manually will cause duplication.
Processing a bank transfer using a File Import or Bank Feed
If you set a transaction's category as another bank account whilst confirming imported transactions, Pandle will prompt you to create a Bank Rule to deal with this type of transfer automatically in the future.
Future transfers between those two accounts will be confirmed in Pandle automatically by the bank rule.
To reduce the risk of errors you will also be shown a similar notification in the corresponding bank account. This notification will prompt you to set up a rule to ignore transfers from the corresponding account, to avoid duplicate transactions.
You can create, view, and edit Bank Rules in Pandle by clicking 'Banking' in Pandle's navigation menu, and selecting 'Bank Rules'.