Recording Transfers Properly

[EPBC2334]

I've recently found out that I'm not recording transfers from Savings to Checking properly. I have my cr & db in different funds. This is how I've been doing it:
Cr savings account: 03-1210-000
Db checking account: 01-1110-000

I know there are transf account #s that can be setup & used but I don't understand how that works or how to record db & cr from one fund to another fund. Can someone show me the proper way to record the following transfer from one fund 01 to another fund 03?

Transf $640 to checking from savings.
$370 for camp scholarships
$270 for benevolent

Thank you.

[Zorak]

We have an article in the Knowledge Base on the site that might help:

http://powerchurch.com/support/answers/ ... icle_id=56

Basically, the transfer accounts are used to provide the offsetting debit or credit in each fund.

So, in your example:

Cr savings account: 03-1210-000
Db checking account: 01-1110-000

Add the following lines:

Db transfer account: 03-9100-000
Cr transfer account: 01-9200-000

Now, the transaction is balanced in each fund.

[EPBC2334]

Thank you for the article, it was very helpful. However I have another question, I decided to go with the detail setup and setup acct #s for each fund as in the example on the article. My question is that I have funds up to 11. What acct # would you suggest for fund 10, since I used 9010-000 and 9510-000 for my 01 fund.

Thanks for all your help. I really appreciate it!

[Zorak]

As long as they are unique in each fund, it doesn't matter what account numbers you assign.