Inter Account Transfers

Overview

The Inter Account Transfers tab allows you to document the movement of funds between two separate bank or cash accounts within the same business. This feature ensures accurate tracking of internal fund movements and maintains balanced financial statements.

When to Use Inter Account Transfers

• •Moving funds between bank accounts - Transfer money from your savings account to your checking account
• •Cash deposits to bank - Document when you deposit cash from your cash register into your bank account
• •Bank-to-bank transfers - Record transfers between accounts at different banks

Creating a New Inter Account Transfer

To create a new transfer, simply click the New Inter Account Transfer button.

Understanding the Columns

The Inter Account Transfers tab displays essential information in an organized table format:

Payment/Receipt Conversion Method

You can create transfers directly from Payment/Receipt pairs. This method is particularly useful when importing bank transactions, where payments and receipts are automatically generated upon upload.

Customizing Display Columns

Columns displayed on this tab can be tailored to your preferences. Click the Edit columns button to select which columns you want visible.

For more details on column customization, refer to the Edit columns guide.

Best Practices

• •Record transfers promptly - Record transfers on the same date they occur for accurate cash flow tracking
• •Use clear descriptions - Explain the purpose of each transfer for easy reference and audit trails
• •Verify balances - Check account balances before and after transfers to ensure accuracy
• •Maintain documentation - Keep supporting documents for audit purposes and compliance

Common Scenarios