User Support Forum

When setting up transfer accounts (2 for each Fund), these new accounts need to close to an Equity Account. Is one Equity account to be created for recording both transfers-to and transfers-out of each fund?

Example:
Acct 9010-000 Transfer to 01 Fund - closes to 3910-000 Fund 01 transfers
Acct 9510-000 Transfer from 01 Fund - closes to 3910-000 Fund 01 Transfers

Thanks,
DLK

Depends on what you want to accomplish.

If you close to 3910-000 in both funds for both accounts in each fund, then you will be able to see the transfer activity in each account when you run a report per account. When you run a consolidated report, the transfers may cancel (if the total amount that leaves one fund appears in another fund).

If you simply close to the default equity account (3110-000) in each fund, the transfers will be less "noticeable" on your reports.

The way you are doing it, the transfers will be very "noticeable". That may be your intention.