User Support Forum

I have money in our youth group fund 06 in a savings account 06-1210-000. I created a new account# 06-1110-000 for recording in our checking account. I want to transfer the money from savings acct to the checking account so when I write checks I don't have to transfer money each time from savings to checking.
Is this the correct entry I would make in PCP:

Cr 06-1210-000
Db 06-1110-000

Since I'm not transfering money to a different fund, I assume I would not use my Trasnfer account #'s [9000]. Is this correct?

Thank you for your help.

Yes, what you are doing is correct.

FYI, the transfer accounts help when you want to get money from a savings account in Fund 01 to a checking account in Fund 06.

Since you need two entries IN EACH FUND, the transactions would look like this:

Move money out of Fund 01 savings:
CR 01-savings
DB 01-9010-000

Move money into Fund 06 checking:
DB 06-checking
CR 06-9010-000

Moving from one account to another within a fund is done the way you are doing it.

Great! Thank you for confirming this for me. Have a great day.