When you do a transfer transaction using Bank Transfer Form (Create + sign > Other > Transfer), transferring funds from one account to another, you do not see a field where you can apply a class and a division on the transaction. This may be very critical data to run reports.
If this information is very important for business, you will need to write a Journal Entry. In Journal Entry Form, you can enter Class and Location.
Note: You need PLUS level subscription for Class and Location tracking features.
When you write a Journal Entry, if you just use one bank account as debit and another bank account as credit with class and location, it will still not show up on transaction report.
Trick is you still need to add one expense account with zero amount. See attached Journal Entry screenshot photo below.
When one expense account was added along with two bank accounts, the Transaction Report came out okay. It seems Class and Location transaction is mapped to Expense Account only at this time. Built-in Transaction Report will not have Class and Location columns, so you need to customize the report a bit. To customize the Transaction Report > Click Customize button > Select Rows/Column > Select “Change Columns” blue button > Add Location and Class from available columns > Click OK button.
Now, you can also run the Balance Sheet by Class report as well as the Balance Sheet by Location report. With a little bit of available customization steps, of course!