Welcome to our how-to guide on recording bank transfers in Aplos! This guide will show you how to accurately document transfers between your bank accounts using either the Register Entry (RE) or a Journal Entry (JE). Whether you're moving funds from savings to checking or between other accounts, this tutorial will help you manage your finances effectively in Aplos.

The timely and proper transfer of funds is critical for accurate accounting. In Aplos, transfers can be defined as:

• Bank-to-Bank transfers (using 1xxx Asset Accounts)
  • Entered via a Register Entry (RE)
  • Entered via a regular Journal Entry (JE)
• Fund-to-Fund transfers (using 3xxx Equity Accounts)
  • Entered via a Journal Entry Fund Transfer (select "Start a New Fund Transfer")
  • To learn more about how to complete a journal entry fund transfer, please refer to How to Complete a Fund Transfer resource.

The Balance Sheet by Fund report is a valuable tool for:

• Viewing and planning for the assets and/or funds to be transferred.
• Reviewing the accuracy of the transfer after the Register Entry or Journal Entry is completed.

Bank-to-Bank Transfers

How to Record in the Register

1. On the Register page, find the down arrow at the top where you can select the register you're working in.

2. Choose the register (Bank Account) from which you'll be transferring money. For this example, we'll use the Savings register.

3. Once here, select the "add new" button to the right and select Payment
   
   

4. On the entry line, you'll enter:

   • Date: transfer date

   • Contact: Your bank's name

   • Account: The destination bank (e.g., Checking),

   • Amount: amount that will be transferred. This works as if one bank is paying another.

     Example Screenshot for Register Entry

     Description: A screenshot showing a register entry line with "Savings" selected, "Bank Name" as Payee, "Checking" as Account, and the transfer amount in the Payment box.

How to Record in Journal Entry

When using a Journal Entry for a bank-to-bank transfer, you'll need to use the debit and credit columns to post the transaction.

1. The debit column will be for the bank account receiving the money (e.g., Checking).

2. The credit column will be for the bank account the money is coming from (e.g., Savings).

   Example Screenshot for Journal Entry
   
   Description: A screenshot showing a Journal Entry screen with a debit to "Checking" and a credit to "Savings" for the transfer amount.

Transferring Money Between Banks and Funds

Sometimes, you need to transfer money not just between bank accounts, but also between different funds. Let's look at an example:

Suppose you have two different funds, the General Fund and the Missions Fund. You want to transfer $1,000 from the Missions Fund (which is in your Savings register) to the General Fund (which is in your Checking register). To do this, you'll complete two separate transactions:

1. First Transaction: Fund Transfer. You'll transfer $1,000 from the Missions Fund to the General Fund within the Savings account.

2. Second Transaction: Bank Transfer. Then, you'll execute the bank-to-bank transfer for the General Fund between the Checking and Savings registers, as described in the "Bank-to-Bank Transfers" section above.

Here's how the process works visually:

Description: A diagram showing two steps: 1. A fund transfer from Building Fund to General Fund within the Savings register. 2. A bank transfer for the General Fund between the Checking and Savings registers.

Step 1: Perform the Fund Transfer

This first transaction will take place in Journal Entry under Fund accounting > Transactions.

1. Once on the Journal Entry screen, click "+ Start New Fund Transfer" in the left-hand panel

2. You will then move the money from the Building Fund (or Missions Fund, as per the example) to the General Fund within your Savings account.
   
   
   Description: A screenshot of the "Start New Fund Transfer" screen, showing a transfer from "Building Fund" to "General Fund" within the "Savings" account for $1,000.

Step 2: Execute the Bank Transfer

Once the money is transferred between funds, you can now transfer it between your bank accounts. This repeats the Bank-to-Bank Transfer process explained earlier in this guide. You'll move the $1,000 from your Savings account to your Checking account, now associated with the General Fund.

Mastering bank and fund transfers in Aplos is essential for accurate and transparent financial management. By utilizing both Register Entries and Journal Entries, you can precisely record how money moves between your bank accounts and allocate funds across different programs or purposes. Remember to leverage the Balance Sheet by Fund report to review your transfers and ensure everything aligns with your financial goals. With these tools and techniques, you'll maintain clear, organized financial records for your organization.