A transfer moves value between accounts you own. It is not income or spending across your finances as a whole, even though each account has an outgoing or incoming entry.

Recognise a transfer

Common examples include:

  • moving money from a current account to savings;
  • paying your own credit-card balance;
  • transferring cash into an investment account; and
  • moving money between accounts in different currencies.

A payment to another person or business is normally spending, not a transfer.

When both accounts are tracked, the bank may import one outgoing and one incoming transaction. Use the transaction action that links or marks them as the two sides of one transfer.

Check that:

  1. the accounts are both yours;
  2. the dates are reasonably close;
  3. the amounts agree, allowing for fees or currency conversion; and
  4. the directions are opposite.

Add a transfer manually

Start from the transaction or transfer action in Plutus, select the source and destination accounts, enter the date and amount, then review the entries Plutus will create.

Do not add two unrelated manual transactions when Plutus can create a linked transfer.

Handle fees and exchange differences

Record a fee as spending when it is a genuine charge. For cross-currency transfers, the source and destination values may not match numerically; use the actual amount in each account and keep any exchange information in the transaction details.

Confirm the result

The two accounts should change in opposite directions while spending reports exclude the principal transfer. Net worth should only change for a real fee or market/currency effect.

Common problems

  • Do not link a card purchase to the later card payment.
  • Wait for pending bank entries to settle before resolving apparent duplicates.
  • If only one account is tracked, record the available side and classify it consistently.

Next steps