Bank Transfers

Overview

Bank transfers move money between two bank accounts within your organisation. Each transfer records a credit from the source account and a debit to the destination account, keeping your books balanced.

Key characteristics:

• Internal only — Transfers move money between your own bank accounts, not to external parties.
• Double-entry — Each transfer creates two transactions: a credit (money out) and a debit (money in).
• Reconciliation-ready — Transfers automatically create remittance records for bank reconciliation.
• Auto-titled — The transfer title is generated from the source and destination account names.
• Multi-currency aware — Transfers between different currencies record both amounts and calculate the effective exchange rate.

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Creating a Bank Transfer

Click New Bank Transfer from the bank transfers page or from within a reconciliation.

Fields

Field	Required	Description
From Account	Yes	The source bank account (money leaves this account).
To Account	Yes	The destination bank account (money enters this account).
Amount	Yes	The amount to transfer when both accounts use the same currency.
From Amount	Yes for cross-currency	The amount leaving the source account, in the source account's currency.
To Amount	Yes for cross-currency	The amount arriving in the destination account, in the destination account's currency.
Date	Yes	The date of the transfer.

Validation

The source and destination accounts must be different. You cannot transfer money to the same account.

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How Transfers Work

When a bank transfer is saved, the system creates:

1. Two transaction groups — A "From Account" group and a "To Account" group.
2. Two transactions — A credit on the source account and a debit on the destination account.
3. Two remittances — One for each bank account, used during reconciliation to match against bank statement line items.

The transfer total reflects the amount moved (not the sum of both sides).

For transfers between different currencies, Beeswax also calculates the effective exchange rate from the two entered amounts. If the transfer realises a currency gain or loss compared with the source account's weighted average cost, Beeswax posts that gain or loss automatically.

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Editing & Deleting

Editing

Click a bank transfer to edit its details. You can change the amount, date, accounts, and notes. Editing a transfer updates the underlying transactions and remittances.

Deleting

Click the delete icon to remove a bank transfer. This also removes the associated transactions and remittances.

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Recording Transfers Through the API or an AI Assistant

An assistant connected through the Beeswax MCP connector records a transfer with create_bank_transfer, and an integration with POST /new_api/v1/bank_transfers. Either makes the same Bank Transfer as the form above: the same two transactions, the same two remittances, and the same title when none is given.

• Use a transfer, not a manual journal, whenever money moves between two of your own bank accounts. A manual journal changes the same balances, but it is not a Bank Transfer and doesn't reconcile like one.
• Both accounts must be bank accounts (listed with bank_account: true by list_transaction_accounts), active, different, and in the same currency. Cross-currency transfers are entered here, on the form, where both amounts are recorded.
• The date must be after the lock date. A transfer is posted as soon as it is recorded; there is no draft.
• A wrong transfer is deleted (delete_bank_transfer) and recorded again. Deleting is refused while either side is reconciled: untick it on the bank reconciliation first.

The token needs the journal_entries:write scope to record or delete a transfer, and journal_entries:read to list them.

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Reconciliation

Bank transfers create remittances that appear during bank reconciliation. A transfer is considered fully reconciled only when both remittances (source and destination) have been confirmed in their respective reconciliation periods.

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Filtering

The bank transfers list supports date range filtering to narrow down transfers by period.

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How-to Guides

Create a Bank Transfer

1. Navigate to Money > Bank Transfers
2. Click New Bank Transfer
3. Enter: amount, date, source account, destination account, and an optional note
4. For cross-currency transfers, enter both the amount leaving the source account and the amount arriving in the destination account
5. Click Save

Note: Only active bank accounts are shown. Manage your bank accounts via Accounting > Chart of Accounts.

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Permissions by Role

Action	Owner	Super Admin	Manager	Accountant	Basic	Client
Create transfers	Yes	Yes	No	Yes	No	No
Edit transfers	Yes	Yes	No	Yes	No	No
Delete transfers	Yes	Yes	No	Yes	No	No
View transfers	Yes	Yes	No	Yes	No	No

Basic Plus follows Basic for the actions in this table; its extra access is to account-wide tasks and read-only projects. See Roles.

Key Notes

• Managers cannot manage bank transfers. This is an accounting-level feature.
• Accountants have full access to bank transfer management.
• Basic users, Contractors, and Clients cannot access bank transfers.
• Bank transfer creation requires an active subscription with accounting access.