In Sage Accounting you are unable to transfer money between your foreign currency bank accounts.

This article will explain the options you have to record the transfer of money from one foreign currency bank account to another.

There are two ways we recommend doing this:

• Journal the money from one account to another 
• Use a GBP bank account to transfer the money between the two foreign currency bank accounts

 CAUTION: We recommend speaking to your accountant for their preferred method of recording the transfer.

Journal the transfer

1. Go to Adjustments, then select Journals.
2. To create a new journal, select New Journal.
3. Enter the date and a suitable Reference and Description. This helps you find and identify the journal later. Complete the following information:
   

   Details	If required, enter details for the journal.
   Ledger Accounts *	Select the nominal ledger accounts for your foreign currency bank accounts.
   Include on VAT Return?	We would recommend ticking the include on VAT return box.
   Debit	Enter a debit value for the bank account the money is being transferred from in GBP (£). The value of the foreign currency will appear below the figure.
   Credit	Enter a debit value for the bank account the money is being transferred to in GBP (£). The value of the foreign currency will appear below the figure.
   Exchange	Enter the exchange rate for both lines of the journal. It's recommended to put the exchange rate on the day of the transfer, between the foreign currency and GBP (£).

4. Check the total value of credits and debits are the same, then select Save.

Transfer via a GBP bank account

This scenario involves using a GBP bank account as a bridge to transfer the money from one foreign currency bank account to another.

By using this method this will create two transactions that don't appear on your real-life bank statement. Mark these both as reconciled on your next bank reconciliation to avoid having a difference.

1. From Banking select New, then Bank Transfer.
2. For the Paid from Account select the foreign currency bank account the money originally transferred from.
3. Select your GBP bank account for the Paid into Account.
4. Enter the Amount Transferred and ensure the Exchange Rate is correct for the day of the original transaction.
5. Enter the Date Transferred.
6. When you're happy with the details select Save.

You now need to transfer the money into the other foreign currency bank account.

1. From Banking select New, then Bank Transfer.
2. For the Paid from Account select your GBP bank account.
3. For the Paid into Account, select your foreign currency bank account the money was originally transferred into,
4. Enter the Amount Transferred and ensure the Exchange Rate is correct for the date of the original transaction.
5. Enter the Date Transferred.
6. When you're happy with the details select Save.

The money will now have been transferred from one foreign currency bank account to another.