To transfer money between accounts, select Transfer money from the Home Page or the Ledger.
- Insert the Date and Amount
- Select the From and To accounts from the drop-down lists.
- Payment Reference & Detail (which will be displayed in the Ledger) and Notes are optional.
Press the Save button to commit the transfer.
Transactions (with different numbers) will be added to the Ledger for both associated Accounts:
Deleting either Transaction will delete the other one too.
Note 1: some sites will be set up so that Membership fees are credited to a Membership account. When these fees are banked the amount needs to be transferred to the account reflecting the bank account - usually Current.
Note 2: Transfers are used to record moving money from one Account to another and are represented by a pair of Transactions, one in each Account. Each Transaction has a “transfer_tkey” which holds the 'tkey' of its paired transaction in the other account. Here is an example of such a pair of Transactions:
Transfers can be edited, and the associated Transactions are modified in the database as a pair.
|Added reference to Transfers when operating with a Membership a/c for fees.
|Note 2 added (previously KB 'Transfers')