Posted transaction different than entered

[Heidilr1]

I entered a few transactions transferring funds from 1 bank account to another. The entry was:

02-1110-000 ***
02-4020-102 ***
02-1360-000 ***
02-1110-000 ***

This entry debited the checking account (general fund account) and credited the income account. It then transferred the funds (same $ amt) from 1 checking account (1110) to another (1360).

When I went to reconcile the 1110 account, it had $0 as the amt in the transaction. Why? Is it because I debited and credited 1110 for the same amount and it zeroed itself out? Doesn't make sense. I thought this was how I should make a transfer.

Confused,

[Zorak]

Yes, if you debit and credit the same account for the same amount (in one fund or in two funds) the net effect of that transaction is $0.

[JohnDMeyers]

I am guessing that you entered all four entries in one single transaction.

I believe that if you broke it up like this:

Transaction #1
02-1110-000 ***
02-4020-102 ***

Transaction #2
02-1360-000 ***
02-1110-000 ***

You would see two entries in your bank reconciliation window. Is that correct, Zorak?

[Zorak]

Yes, if you enter two transactions, then you will see two lines on the bank rec.