Fund Transfers

Overview

The Fund Transfers screen is used to move money, assets or funds between the balance sheet accounts. You can use this feature when there is a need to transfer funds among similar but different accounts, e.g., from a checking account to a petty cash account or from a savings account to your checking account. These transactions do not affect the balance sheet's bottom line. The account types must be related to bank, credit card, other current assets, other current liabilities or equity. Thus, A/P and A/R accounts are not available for fund transfer. Click to watch this video on transferring funds in Core.

From the accounting view, transferring funds debits the receiving bank account and credits the sending bank account with the same amount (debits and credits the Journal Entry account).

Basic Tasks

Transfer Funds

Edit Fund Transfers

View Reports

Advanced Tasks

Add Custom Fields

Add Documents

View Journal

Show/Hide Columns in Grid

Export Fund Transfers

Apply Filters

Mark Screen as Favorite

 

Transfer Funds

To transfer funds in Core, watch this video or follow these steps:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. Click Create New on the top-right.

    2. On the Make Fund Transfer screen, enter the required information:

      • Date

      • From (source account)

      • To (destination account)

      • Amount: Transfer amount must be greater than zero.

    3. Click Save & Done or Save & Add Another.

Note: From and To accounts cannot be the same.

 

Edit Fund Transfers

To edit a fund transfer:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. Select the fund transfer records on the grid that you want to delete and click Actions > Delete to delete them.

    2. To edit a fund transfer, click  on a row to select Detail.

    3. On the Edit Fund Transfer > General screen, enter details or make the desired changes.

    4. Click Save & Done.

View Reports

To view a report:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. In the list view, click More > View Reports.

    2. Select a report from the Report List dialog. It opens in the viewer.

    3. Preview the report and then choose to export or print it.

 

Add Custom Fields

Using custom fields, you can track extra characteristics and attributes of your fund transfers. You can enter any information (up to 50 characters) about the transfers. You can even customize these fields in the Custom Labels screen.

To add a custom field:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. In the list view, select a transfer on the grid and click  to select Detail.

    2. On the Edit Fund Transfer screen, go to the Custom Fields tab.


    3. Click Add Custom Field and select the type of field you want depending on the purpose, say Text Box.

    4. On the Add Text Box dialog, enter the required information:

      • Name

      • Type

      • # of Characters

    5. Check Show in List View if you want this field to appear under the Show/Hide Columns list and show up on the grid. Click Save.

Note: You can display a maximum of three custom fields on the list view per screen.

Add Documents

To add a document to a client record:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. In the list view, select a transfer on the grid and click  to select Detail.

    2. On the Edit Fund Transfer screen, go to the Documents tab and click Add.

    1. On the Add Documents dialog, select the relevant tab, depending on the type of attachment.

      • Computer: To attach files stored on your computer, enter its Description and drag your file or click to browse to that location.

      • Hyperlink: To attach an external link, enter its Description and then insert the hyperlink.

      • Dropbox: To link files stored in your Dropbox account, enter its Description and then browse for it.

      • Google Drive: To link files stored in your Google Drive account, enter its Description and then browse for it.

      • OneDrive: To link files stored in your Microsoft OneDrive account, enter its Description and then browse for it.

      • Box: To link files stored in your Box account, enter its Description and then browse for it.

      • Resource Library: To link company resources, select the resource from the library. This is available in Core CRM only.

    2. Click Add.

    Core pre-fills some of the information about the attached documents in the grid. You can send the documents to your clients, employees or other contacts for getting their digital or electronic signatures (eSignature via DocuSign) using the eSign option from the  row-action menu. Core automatically adds the signed documents to the Documents folder of the entity (record) as separate attachments. It displays the status of the document, whether it has been delivered via DocuSign, viewed by the recipients, declined or completed by the recipients, etc. This column does not show up if you are not connected via the DocuSign integration.

View Journal

You can understand the accounting behind a transaction by looking at its journal entries. In Core, you can open the Journal report to view the transaction details, including the accounts being credited or debited.

To view a journal report, watch this video or follow these steps:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. In the list view, select the records on the grid and click Actions > View Journal.

    2. If you want to view the journal of a single record, then click  on that row to select View Journal.

    3. The journal opens in the viewer. Preview the journal and then choose to export or print it.

Show/Hide Columns in Grid

You can configure the fields or columns that appear on the grid in the list view. You can hide or show columns, and sort the order of columns according to your requirements.

To do so, watch this video or follow these steps:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. In the list view, click More > Show/Hide Columns on the action bar.
    2. Select or un-select the column names in the drop-down list, say Processed By.
    3. Next, click the column name you want to sort the data by, say Amount.
    4. Click once for ascending order (A-Z) and twice for descending order (Z-A).

Note: You can resize the column widths on the grid and then reset them, if needed (More > Reset Column Widths).

 

Export Fund Transfers

In Core, you can export fund transfers to the Comma Separated Values file format. Core exports data from all available columns and not just the columns visible in the grid.

To export the fund transfer data to a .CSV file, watch this video or follow these steps:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. In the list view, click More > Export as CSV.

    2. A .csv export file is created and saved on your system at the default download location, say your desktop. Click to open the spreadsheet.

Apply Filters

To view selective data on the grid, watch this video or follow these steps:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. In the list view, click  on the right.

    2. On the Filters panel, select a filter from the drop-down and specify individual records or range.

    3. Click Add Filters to specify more filters.

    4. When you have finished, click Apply Filter. You can see selective data now.

    5. In the list view, you can remove the individual filters by clicking  on each. To disable applied filters temporarily or remove all filters, click next to the Filters icon and select Disable Filters or Clear All, respectively.

Mark Screen as Favorite

You can mark or flag the most-often used and important screens in Core as your favorites up to a maximum of ten. These favorite screens then display separately on the side menu under the Favorites list. You can manage all your favorite screens in Core from User Preferences.

To mark this screen as your favorite, watch this video or follow these steps:

    1. Open the Fund Transfers screen from the side menu > Accounting > Fund Transfers.

    1. In the list view, click  on the top-right.

    2. You can access this screen from the side menu under Favorites.

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