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How To Complete a Fund Transfer

Perri
Perri
  • Updated

Transferring money between funds is simple with the "Start New Fund Transfer" feature. Here's how it works:

 

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Choose a Date and Memo: You'll need to enter the transfer date and a reference title (memo) for the transaction.

 

Select the Account: Choose the asset or liability account where the transfer will take place (e.g., 1000 Checking).

Enter the Transfer Amount: Input the amount of money you want to transfer.

Select the Source Fund: This is the fund from which the money is currently coming.

Select the Target Fund: This is the fund where the money will be moved.

 

See the example below:

 

Fund Transfer Sample

 

Once you've posted the transfer, you'll see the transaction in your asset or liability account register.

 

Note: The amount will appear as $0.00 because a fund transfer doesn’t impact your register balance since it simply moves money from one fund to another. *Fund transfers will appear on the balance sheet reports*

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