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Transfer Funds Between Bank Accounts

Creating a Funds Transfer transaction to track transfers between bank accounts

Semmy Tan avatar
Written by Semmy Tan
Updated over 2 weeks ago

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

Creating a Funds Transfer

  1. Navigate to Accounting > Accounts.

  2. Click the three-dot icon at the top-left and select New Funds Transfer.

Completing the Transfer

Clicking the New Funds Transfer will open the following window:

To record the bank funds transfer,

  • Select the appropriate Company and Site.

  • Choose the From and To bank accounts.

  • Enter the Date and Amount of the transfer.

  • Optionally, include a Memo for reference.

Important Notes

  • This action only creates a tracking record within Property Matrix.

  • The actual transfer of funds must be executed directly with your financial institutions.

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 will cause that company's debits and balance to no longer balance, even if the overall balance for all companies combined still balance.

Refer to the Adding Manual Transactions / Journal Entries guide for detailed instructions on creating journal entries.

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