Transfer Funds

Post a balanced transfer between two of your own ledger accounts — most often bank/cash, but not limited to them.

Overview

• Move money between two accounts you pick as From and To, and the system records the matching debit/credit automatically.

• Most commonly used for cash management (moving between bank and cash accounts), but the From/To accounts can also be Credit Card, Equity, Fixed Asset, Other Asset, Other Current Asset, Other Current Liability, or Long-Term Liability — for example, paying down a credit card or a loan from a bank account also uses this form.

• Creates a clear audit trail for the movement.

Where to Access

• Accounting → Transfer Funds

• Click Add New.

Key Attributes

Header

• Date/Time : Effective transfer time.

• From Account / To Account : Source and destination accounts.

• Amount : Transfer value.

• Notes : Reason or reference (e.g., funding payroll account).

Context (display, on existing transfers)

• Balance at Transaction : Each account's balance as of the transfer date.

• After Transaction Balance : Each account's balance right after this transfer posts.

• Current Balance : Each account's live balance today.

Key Functions

• Create a transfer : Enter date, from/to account, amount, notes → Save.

• Auto-post journal : System records the debit/credit between the two accounts.

• Reconcile later in bank reconciliation using bank statements.

Related Features

• View Register (Bank/Cash accounts)

• Bank Reconciliation

• Chart of Accounts

• Run Report (cash movement by period)