When is Transfer Entries to be used?
The Transfer Entries module is used to:
- move funds from one Category to another to support other categories/programs, possibly due to shortage of funds
- move funds from a fundraising category to one or more categories
- transfer funds from a category to be inactivated at the end of the school year to one or more categories (either new or continued as active)
Should be executed prior to inactivating the category and before the fiscal year-end rollover
A Transfer affects the revenue and expense records.
All Transfers are automatically cleared on the system and will not appear during reconciliation.
Year-End reports will not include any Transfers.
Report 13 - Transfer Report can be generated at any time to view all Transfers.
Use Journal Entry Module for corrections (article link is noted at end of this article).
Main Menu > General Activities > Transfer Entries
Transfer Money Within One Bank Account to Different Categories
Step 1: Enter the Transfer information
Transfer From Category: Administration (funds will be taken from this category)
Reason: Assistance for Field Trips per P. Peterson
Transfer To Category: Field Trip #1 (funds will be added to this category)
Step 2: Print Transfer information
Figure 1: Print Options are Print Transfer and Print Transfer Notice
- Print Transfer Report lists all the transfers that are in process (prior to adding to Ledger)
- Print Transfer Notice Report provides a notice that may be provided to category 'stake-holders'.
Step 3: Add to Ledger
Figure 2: Add To Ledger
Transfer Posted to General Ledger
Figure 3: Ledger View
Figure 4: Sample Warning Message if there are insufficient funds in a category.
Journal Entry Module is used for revenue and expense corrections
An Instruction Guide - Journal Entries