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Transfer Funds Between Bank Accounts

Creating a Funds Transfer transaction to track transfers between bank accounts

Written by Semmy Tan

To track fund transfers between bank accounts within Property Matrix, create a Funds Transfer transaction.

Creating a Funds Transfer

  1. Click Accounting in the left navigation menu.

  2. Click Accounts.

  3. Click Actions.

  4. Select New Funds Transfer.

Completing the Transfer

To record the bank funds transfer:

  1. Select the appropriate Company and Site.

  2. Choose the From and To bank accounts.

  3. Enter the Date and Amount of the transfer.

  4. Optionally, include a Memo for reference.

  5. Save the transfer.

Important Notes

This action only creates a tracking record within Property Matrix. The actual transfer of funds must be completed directly with your financial institution.

Transfers Between Companies or Non-Bank Accounts

Transferring funds between companies or non-bank accounts requires creating a Journal Entry.

These entries use pass-through accounts to maintain accurate and balanced records for each individual company. Simply crediting one company’s bank account can cause that company’s debits and balance to no longer balance, even if the overall balance across all companies still balances.

For more information, see Adding Manual Transactions / Journal Entries.

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