Chart of Accounts Transfers Between Checking and Savings

Chart of Accounts Bank Account Transfers

Chart of Accounts Bank Account Transfers

I've transferred from my main account to my savings account as an owners draw but now I transfer back to the main account. How is this deligated? To what account?


Hi,

Thanks for your question. Your initial transfer should have posted as follows:

CREDIT Main Account
DEBIT Savings Account

Therefore, the transfer back would simply reverse the original entry as follows:

DEBIT Main Account
CREDIT Savings Account

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