Funds transfers

Transfer Funds

1. In the main menu, go to Bank, then click on Bank Accounts.
2. On the bank account, click on the actions menu and then on Transfer Funds.
3. In the New Transfer window, choose the destination account, transfer date, amount, rate, and a note.
4. Complete the transfer fields and click Save.

In the destination account, we choose the account where the funds will go.

Note that we can choose any other account including cash funds. In this sense, if we choose another bank account, we are recording a transfer; however, if we choose a cash fund, we would be making a cash withdrawal from the original account.

Important: the system does not allow a transfer from two accounts with different foreign currencies. For example, the system will not allow a transfer between an account in Euro (EUR) and British Pound (GBP) if our local currency is US Dollars (USD).