Transfer Funds

NOTE: Actionstep offers in-built Accounting to users on our Practice Pro + Accounting plan. This article covers functionality with that option.  

Transferring funds is taking funds from any non-trust bank account or credit card and applying them to another non-trust bank account or credit card. In this article, we should you how to create a new transfer and how to access previous transfers.

Create a new transfer of funds

Use the Global create button, make sure it is the expanded version. Look under Accounting and choose Transfer funds.

Fill in the details and click Save.

We explain in more detail the fields in the transfer funds screen:

Title	Description
Date	The date that the transfer occurred.
Journal memo	Enter a description of why these funds are being transferred.
From Account	The account that money will be withdrawn from.
To Account	The account that money will be deposited into.
Amount	The amount to be transferred.

 

Accessing previously entered Transfer funds transactions

Transfer funds are treated as a banking transaction so you will find them included in the list of transactions for your bank.

The transaction will be broken down into the deposit ('transfer to') and the withdrawal ('transfer from'). As you look at the transactions for each bank account or credit card you will see one version of these.

Access these by going to the Accounting menu and clicking on Banking. Choose the bank account the transaction should have been made from and using the three-dot button  select Transactions. 

The listed transactions will include all transactions for that bank account. If you want to see just the transfers use the Filter to filter the 'Entry type' by "transfer from' or "transfer to".

TIP: If you have a supporting document such as a form giving permission to transfer funds, you can upload it to the transaction by:

1. Clicking on the "transfer from" or "transfer to" that appears to the left of the line that represents the transfer funds.
2. Using the paperclip icon in the top right to upload a document.

The paperclip icon will update to show a count of how many documents are attached to the transaction. Click it again to be able to download the document at a later date.