Recording a Transfer Without Moving Money
Recording a Transfer Without Moving Money
Use this procedure if you are trying to record bank transfer activity that occurred outside of CINC Core.
Select Banking > Transfer Funds. If you are using universal navigation, click Accounting > Banking > Transfer Funds.
Enter a Transaction Date. This can be backdated as long as the fiscal period is open.
Select the account the funds need to move from in the Bank Account From field.
Select the account the funds need to move to in the Bank Account To field.
Enter the Amount to be transferred.
If a previously saved transfer is being used for field defaults, select it in the Saved Entries dropdown.
To save the transfer details for future use, enter a description in the Save Entry Description field to identify transfer for future use.
The Transfer GL Description default is Funds Transfer, but you can enter something else to help identify the purpose of the transfer on the general ledger.
In the Additional Journal Entries, enter additional GL debits and credits related to the transfer. This section of the screen is used if you need the transfer to reflect on the income statement or affect other areas of the balance sheet.
The most common use of this section is to record reserve contributions (e.g. Due to Operating, Due from Reserve) in Reserve Accounting.
Do not enter another bank account in this section or the original bank accounts as it could create an in-then-out.
Click Save if you would like to save this entry for future use or review.
Click Post if you are ready to post the entry.
When redirected to the Pending Transfer screen, immediately navigate away to the Banking > Bank Account Register screen. IMPORTANT: Do not click Transfer on the Pending Transfer screen. If you are using universal navigation, click Accounting > Banking > Bank Account Register.
On the Bank Account Register screen, locate the transfer.
Enable the toggle in the Print column.
Place a checkmark to the left of the transaction.
Click Save.
Change the Bank Account to the other side of the transfer.
Repeat steps 13-16.
Verify that the transfer no longer shows on the Banking > Pending Transfer screen. If you are using universal navigation, click Accounting > Banking > Pending Transfers.