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Bank Transfer

## Bank Transfer (Definition) A bank transfer in Fiskl refers to the movement of money between bank accounts owned by the same business, which needs to be recorded as an internal transfer for accurate financial tracking.

Key features of bank transfers in Fiskl include:

  1. Movement of funds between accounts owned by the same business
  2. Recorded as internal transfers in the accounting system
  3. No impact on overall business income or expenses
  4. Essential for maintaining accurate cash flow records
  5. Helps in managing liquidity across different bank accounts
  6. Can be scheduled for regular transfers or performed as needed
  7. Important for reconciliation of multiple bank accounts
  8. Requires proper categorization to distinguish from other transactions

Accurate recording of bank transfers is crucial for businesses to maintain a clear picture of their cash position across multiple accounts and ensure proper financial reporting.