How To Add a New Transfer

To add a new transfer in MoneyCoach, open the full entry flow from Overview, switch the transaction type to Transfer, choose the Sender and Receiver accounts, enter the amount, and tap Save. Use transfers when money moves between accounts you own, not when you spend money or receive income.

TL;DR

• Open Overview and tap the floating + button.
• Switch the transaction type to Transfer.
• Enter the amount that leaves the Sender account.
• Pick the Sender and Receiver accounts.
• Tap Save.

Video Tutorial

Step-by-step guide

1. Open Overview.
2. Tap the floating + button.
3. At the top of the New Transaction screen, switch the type to Transfer.
4. Enter the amount you want to move.
5. Under Sender, select the account the money is leaving.
6. Under Receiver, select the account the money is going to.
7. Change the date if you are recording a past or future transfer.
8. Use the bottom action buttons if you want to add a description, location, repeating schedule, or attachment.
9. Tap Save. On iPhone, the save action appears in the calculator bar while you are entering the amount.

When to use a transfer

Use Transfer when money moves between accounts that both belong to you. The movement changes where your money is, but it does not represent new spending or new income.

Good transfer examples:

• Moving money from checking to savings.
• Taking cash from an ATM and moving it from a bank account to a cash account.
• Paying your own credit card from a checking account.
• Moving money into a goal account.
• Moving travel money into an account with another currency.

Use Expense when money leaves your finances, such as groceries, rent, subscriptions, or bills. Use Income when new money enters your finances, such as salary, refunds, gifts, or interest.

Sender and Receiver

The Sender is the account the money leaves. The Receiver is the account the money enters.

For example, if you move 200 EUR from checking to savings:

• Sender: Checking
• Receiver: Savings
• Amount: 200 EUR

MoneyCoach records both sides together so your account balances stay consistent. A transfer cannot use the same account as both sender and receiver.

Multi-currency transfers

When the sender and receiver accounts use different currencies, MoneyCoach shows the receiver amount and exchange rate next to the sender amount. You can edit the receiver amount directly if the automatic conversion does not match the real amount that arrived.

For example, if you move money from a EUR account into a USD travel account, enter the sender amount first, then check the receiver amount before saving. This helps your reports and balances reflect the amount that actually landed in the destination account.

For broader currency setup, see How To Use Multi-Currency.

Common mistakes

• Using Expense for money moved to savings. That makes savings look like spending.
• Using Income for money moved from another account you own. That makes your income look inflated.
• Selecting the same account as both Sender and Receiver.
• Saving before checking the receiver amount on multi-currency transfers.
• Creating a manual transfer for an online banking transaction that was already imported.

Online banking transfers

If MoneyCoach imported a bank transaction through Online Banking and that transaction is actually a transfer, use How To Mark Online Transactions as a Transfer. That flow lets MoneyCoach match the imported transaction with the opposite transaction instead of creating a duplicate manual transfer.

If you are reviewing reports and want to hide internal money movement, see How To Exclude Transfers From Reports In MoneyCoach.

Additional information

MoneyCoach will only save a transfer when the amount is positive, both accounts are selected, and the sender and receiver are different accounts.

Transfers can also use the same bottom action buttons as other entries. Use the description button for notes, payees, or tags; use the repeating button for scheduled transfers; use attachments when you want to keep a file or receipt with the record.