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Transfers

Move money between your own accounts without double-counting it as income or an expense.

1. Overview

An Internal Transfer moves money from one account you own to another. It does not change your net worth because the money stays within your own financial ecosystem. It is excluded from your income and expense totals in Analytics and the Dashboard.

Common uses include:

  • Moving your month-end surplus from a salary account into a savings or investment account
  • Sweeping idle cash from a savings account into a mutual fund account
  • Moving physical cash into a bank account

2. Opening the Transfer Form

  • Desktop: Click Add in the top navbar, then select Internal Transfer.
  • Mobile: Tap the + button in the bottom tab bar, then tap Internal Transfer.

3. Filling the Form

Complete the following fields:

  1. Amount: The amount you are moving.
  2. Date: When the transfer happens. Defaults to today.
  3. From Account: The account money leaves.
  4. To Account: The account money arrives in.
  5. Description (optional): A short note such as "Monthly savings sweep".

Click Execute Transfer to save.

4. What Happens After a Transfer

The transfer debits the From Account and credits the To Account immediately. Both account balances update the moment you click Execute Transfer.

The transfer appears in the Transactions list at /transactions/ with a special transfer indicator. It does not appear in the Expenses or Income lists.

Do not log a transfer as Expense and Income

A common mistake is logging the outflow as an expense from one account and the inflow as income to another. This double-counts the money in your Analytics, inflating both your total expense and total income figures by the transferred amount. Always use Add → Internal Transfer instead.

5. Setting Up Recurring Transfers for SIPs

For automated monthly investments such as a Systematic Investment Plan (SIP), set up a recurring Transfer rather than logging separate manual records each month:

  1. Go to Add → Add Subscription.
  2. Set Transaction Type to TRANSFER.
  3. Set From Account to your bank account (for example, HDFC Salary).
  4. Set To Account to your investment account (for example, Mutual Funds).
  5. Set Frequency to Monthly and enter your SIP amount.
  6. Click Save Subscription.

Every month, money automatically moves from your bank account balance into your Mutual Fund account's cash pool. You can then update your mutual fund holdings under Holdings and Portfolio.

Real-world use case

After checking the Trends page and finding that Rs. 80,000 has been sitting idle in his SBI Savings Account for three cycles, Arjun decides to sweep Rs. 25,000 into his Mutual Funds account each month. He sets up the transfer via Add → Internal Transfer, From Account: SBI Savings, To Account: Mutual Funds, Amount: 25,000, and clicks Execute Transfer. His Accounts page immediately shows SBI balance down by Rs. 25,000 and Mutual Funds up by Rs. 25,000. His net worth is unchanged but his asset allocation is now working harder.