Funds Transfer
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Funds Transfer
I have transferred funds from one checking account to another for the purchase of some new flooring. However, when I write the check for the flooring it shows as an expense for the month which is great, but the tranfer does not show up on the Income Expense Report therefore it shows that we spent that money but that it didn't come in. I am not sure if I am doing this right or even explaining it right. ANY help here on the correct way to enter this would be greatly appreciated.
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Re: Funds Transfer
Transferring money from one bank account to another isn't really income. That money was likely recorded as income already at some point when it was originally deposited, so it wouldn't be accurate to record it as income a second time.
Re: Funds Transfer
What Zorak said is correct you won't show that as 'income' . However, if you want the transfer to show up in the I&E report you must use TRANSFER accounts which will show the funds as a transfer.Billingsaog wrote: ↑Wed Nov 03, 2021 2:35 pmI have transferred funds from one checking account to another for the purchase of some new flooring. However, when I write the check for the flooring it shows as an expense for the month which is great, but the tranfer does not show up on the Income Expense Report therefore it shows that we spent that money but that it didn't come in. I am not sure if I am doing this right or even explaining it right. ANY help here on the correct way to enter this would be greatly appreciated.
Did you use these accounts?
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
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- Posts: 2
- Joined: Thu Jan 28, 2021 3:11 pm
Re: Funds Transfer
No, I just did a straight transfer from one account to the other. I am new here to Powerchurch and so any help would be greatly appreciated.
Re: Funds Transfer
My suggestion is to review the information in the PCPlus User Manual, or the built-in help and look for Transfer Accounts. The manual can be found in the x:\powerchurch\PCPLUSzz directory as pcpluszz.pdf where zz is the version of Powerchurch you're using, and x is the drive where Powerchurch is installed.Billingsaog wrote: ↑Thu Nov 04, 2021 11:12 amNo, I just did a straight transfer from one account to the other. I am new here to Powerchurch and so any help would be greatly appreciated.
Trying to explain transfer accounts via the forum is awkward, and the user manual's explanations about setup and use are fairly good. If you're using v12, this information can be found on page 238 of the manual.
In your case, I'd look at the Simple Setup for transfer accounts.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.