7.3 Transfer Money

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:

Current Account

Social Account 

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:

tkey	t_date	account	amount	transfer_tkey	payee/payer
1234567	2019-08-28	current	-2000	1234568	to savings
1234568	2019-08-28	savings	+2000	1234567	from current

Transfers can be edited, and the associated Transactions are modified in the database as a pair.

Transfer Complication

We have come across a complication that you might need to be aware of. If money comes into an account (e.g Current) but you want to analyse it against a Group which has all of its funds recorded in a different account (e.g. Travel Account) then you cannot simply do a Transfer. If you do it means the Group Rollover at Year End has transactions recorded in the incorrect account. (e.g Current account)

What you need to do is do a transaction for the funds from Current Account and then a Credit transaction into the Travel Account and associate this to the Group. 

 Revision History

v2	2020-08-10	Graham Tigg	Added reference to Transfers when operating with a  Membership a/c for fees.
v3	2021-04-22	Lyn Bossons	Note 2 added (previously KB 'Transfers')
v4	2025-02-12	John Alexander	Transfer complication added
v5	2025-04-06	John Alexander	Update screen shots for updated ledger layout