You can record the transfer of funds from one cash account to another on the Transfer Funds screen.
To use this function, you must first have set up your cash accounts with their associated banks, and your Chart of Accounts must include a Current Assets clearing account with the category code Bank Transfers.
Note: For more information, see the Categories section of the Maintain Chart of Accounts topic.
In addition to recording new transfers, from the Transfer Funds page, you can access a list of recent transfers to review and edit or delete.
To record, review, edit, or delete a transfer of funds:
1. Select Cash Transfers from the Banking menu to open the Transfer Funds screen.
2. (Optional) Click Recent Transfers to view a list of the most recently-recorded fund transfers.
You can select a transfer from the Recent Transfers list to open it for review. You can use the fields in the Transfer Funds screen to edit the information displayed for the transfer, or click the Delete button to remove the record of the transfer.
3. Verify the date in the Date of Transfer field or enter the correct date for the transfer.
By default, this field displays the system date, but you can enter any date for the transfer.
4. Enter the amount to transfer in the Amount field.
5. Select the cash account from which the funds will be transferred from the From Account drop-down list, and the account to which the funds will be transferred from the To Account drop-down list.
These drop-down lists display all of the cash accounts you have defined for this company.
6. Enter an identifier for the transfer in the Reference field or accept the default identifier.
By default, the transfer is assigned a reference number that combines the Xfer indicator with the date of the transfer. Multiple transfers between the same accounts on the same day are distinguished by the amount transferred.
7. Enter notes or information about the transfer in the Memo field.
8. Click Transfer.
A message appears, indicating the transfer was successfully saved. The transfer now appears in the list available from the Recent Transfers button.