While the transfer works within your accounts in Money Manager, you can set the transfer transaction like Savings/Investment/Insurance/Loan as an expense.
If you enable the “Transfer as Expense” setting, the “transfer” amount will be applied to the total balance as an expense transaction.
Transfer-Expenses function is to be enabled on particular accounts, such as savings, insurance, investments, and loans.
* Please note that this feature is not applicable to Cash/Bank/Card/Debit card accounts.
Settings > Configuration > Transfer-Expense Setting
If you check the option, you will see transfer transactions from the account are now considered as expenses.