Enter an Electronic Transfer

Description: How to enter an electronic transfer.

Do you enter a electronic transfer the same way as a check except in the check number cell I obviously wouldn't have a check number?

You enter an EFT either through a pair of receipt and disbursement entries or through a pair of general journal entries. The key is to run it through a suspense account. The reason is that bank recs clear transactions, not line items. So you never want to hit two banks on one transaction.