Your portal processes transfers a little differently from other transactions. That’s because it differentiates between two types of transfers:
- Money transferred from one account to another, both under your name;
- Money transferred between two accounts under different names.
Transfers between my accounts
By default, transfers between two accounts under your name are matched, then hidden from the Cashflow area of your portal. This is because such transfers usually don’t affect your net worth - money is moving but it’s neither an income nor an expense.
How to match /unmatch transfers.
There may be instances where you’d prefer to surface these transactions, as in the case of a credit card or loan repayment. To do so:
- Find the settings cog on the top right corner of your screen and click on it.
- Click on “Wealth and cashflow settings”.
- Check the “Include transfers” box to show transfers between your accounts (such as credit card payments) and the “Show loan transactions” box to show loan payments.
All such transfers will now be visible in the Cashflow area of your portal.
How to manually match a transfer
If it takes more than 24 hours for a transfer to leave one account and appear in the other, the portal will not be able to match the transactions as a transfer automatically. When this happens, you can choose to individually hide the two transactions or manually match them as a transfer. To do so:
- Open the transaction in the Cashflow section.
- Click the edit icon.
- Select "Make this a transfer".
- The portal will find matching transactions (same amount, occurring within a 24h period). Select the correct one and click on “Save and exit”.
Transfers between accounts that have different owners (a.k.a. the Transfer category)
One of the default Cashflow categories in your portal is called “Transfers”. It is reserved for payments between accounts that have different account owners.
Any settings applied to transfers between two of your accounts as outlined in the previous section will not affect transactions in the Transfer category. For example, if somebody transfers money into your account, it will still appear in Cashflow as an income transaction.