What is the difference between a Transfer and Expense entry?

We can create a transfer and expense transaction in TimelyBills without any hassle. They both serve different purpose and have a different definition mentioned below:  

Transfer

It means movement of money between accounts, such as from a checking account to a loan account or between similar accounts. Transfers do not affect your net worth because the funds are moving from one account to another.

Expense

It represents money spent or costs incurred for buying food, paying bills or other purchases. Expenses decrease your net worth because they involve money outflow rather than moving from one account to another.