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Account Transfers

Use Account Transfers to record the movement of cash balances between your Cash and Bank Accounts, such a recording cash banking. Other uses of Account Transfers include recording accruals and prepayments when used in conjunction with your Creditor/Debtor Accounts; and loan account capital repayments.

Importantly, Account Transfer transactions are not treated as income or expenditure and will not appear your Profit & Loss / Income Statements.

How to Create an Account Transfer

Step 1: Select Account to Transfer From

  • Select Transfer From Account
  • Click Create a Manual Transfer button

Step 2: Select available Net Cash Receipts to Transfer (Optional)

  • For your cash receipts you may find it useful to associate specific Net Cash Receipts* to your new Transfer, eg, for cash banking. This gives you more control of your cash transactions by locking them to prevent them from being edited later, and avoiding the possibility of accidentally editing them after they have been transferred to another account. This ensures that Net Cash Receipts are always reconciled to corresponding Transfers.
    • *Note that you can only select net receipts from Cash-type accounts. Cash receipts which contain mixed Receipt and Payment transactions must be a net Receipt. Accounts must also be non-reconcilable.

How to hide available Receipts.

  • If you always use the manual Transfer method or just want to tidy up the available Receipts view, you can remove or hide selected Receipts.
  • To do this, select the Receipts you want to hide and click the “Hide Selected Receipts” button.
  • This will move these Receipts into the “Hidden Receipts – Unavailable for Transfer” region below. (To show contents of this region click the small “+” icon to the left of the title)
  • Finally, you can Un-Hide Receipts by selecting them from this region and clicking the “Un-Hide Selected Receipts” button.

Step 3: Enter Transfer Details

Account Transfer Details

  • Transfer Details: Enter brief details/description for this transfer
  • Transfer Date: Enter or select the transfer date
  • Show Funds? (optional): Check the box if you also want to record the Transfer across Funds at the same time.

Transfer From

  • Enter Transfer From details in this box
    • Account: This is the Account you are transferring monies FROM which you selected in the previous page. If you used the optional Step 2 then you will need to click the “Previous” button to go back to the previous page
    • Fund (optional): If the Show Funds? box was clicked, you can also select a Fund to transfer the cash amount from.
    • Cost Code: Select an appropriate Cost Code
    • Total Transfer Amt: This is the total amount you will transfer between accounts. Note that this value is pre-populated and cannot be changed if you have selected and associated Receipt Lines with this transfer (“Wizard Transfer”)
    • Payment No (optional): Enter a Cheque or Payment number or select one of the “Quick Picks” (eg. “CASH”)

Transfer-To Line(s)

  • Enter Transfer To Lines in this box
    • Transfer-To Details: Leave this blank to copy from the Transfer Details box or you can enter different details for this line. This is useful if you want to differentiate multiple Transfer-To Lines
    • Account: This is the Account you are transferring monies TO
    • Fund (optional): If the Show Funds? box was clicked, you can also select a Fund to transfer the cash amount to
    • Cost Code: Select an appropriate Cost Code
    • Transfer Line Amount: The system will copy the Total Transfer Amount into this box. If you are entering multiple transfer-to lines in this Transfer, change this to the correct amount for this line.
      • Important: When entering multiple Transfer-To lines, the total Transfer-To balance MUST match the Total Transfer Amt (From) balance. This system will warn you if there is a mis-balance.
    • Pay-In No (optional): Enter your own Payment Voucher number. Eg. your bank paying-in slip. Or select one of the Quick Picks (eg. “Cash”)
    • Notes (optional): Enter notes for this transfer line.

  • Click Save button to save your Transfer.
  • If you want to create additional Transfer-To lines, click the Add New Transfer-To Line button and enter the new details in the Transfer-To Line(s) box. Remember that the total Transfer-To balance MUST match the Total Transfer Amt (From) balance.