Transferring Money Between Funds

The process of moving money from one fund to another is quick and simple. Follow the below steps to complete the process.

Step 1

On the main Accounting screen, select the Account where the money you intend to transfer will come from. Start the process by creating a new transaction.

Step 2

Select "Deposit/Credit" from the transaction type field. Select the fund you want to transfer the money FROM and enter the amount of money to be transferred as a negative amount (e.g -1000.00).

Type "Transfer to Building Fund" or something similar in the description field. You want to indicate where the money will be allocated.

Step 3

Then select "Add Line" to add another entry. On this second line, select the fund you want the money to go TO, and enter the positive amount (e.g 1000.00).

Type "Transfer from General Fund fund" or something similar in the description field. You want to indicate which Fund the money is coming from.

The Transaction Total should equal zero because you are subtracting from one fund the same amount that you are adding to the other fund.

This will not affect the balances in your accounts, as no money is being withdrawn or deposited in the actual bank account. This is simply reallocating money internally between your funds.