Working with Transfer Funds

In this article:

• Create a New Transfer of Funds
• Accessing Previously Entered Transfer Funds Transactions

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. This article covers how to create a new transfer and how to access previous transfers.

Create a New Transfer of Funds

To transfer funds:

1. In Actionstep, click the global Create button and choose Transfer Funds from the Accounting section. (You  may need to click Show all to view all of the options.) The New Bank to Bank Transfer window appears.
2. Complete the following fields:
   • Date: Enter the date the transfer occurred.
   • Journal memo: Enter a description of why these funds are being transferred.
   • From Account: Choose the account the money will be withdrawn from.
   • To Account: Choose the account money will be deposited into.
   • Amount: Enter the amount you need to transfer.
     NOTE:  You may see an option called To amount, which is available if your system supports multiple currencies. If this applies to you, the Amount value represents the amount that left the bank account (in that account's currency) and Amount to represents the amount that was deposited in the other bank account (in that account's currency).
3. Click Post. 

Accessing Previously Entered Transfer Funds Transactions

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

To view transferred funds:

1. In Actionstep, go to Accounting > Banking. The Banking page appears.
2. Find the account whose transfers you want to review.
3. Click the ellipses icon for the account and choose Transactions from the from the View section. The Transactions page appears and shows all of the transactions that have been made for this account.
4. Use the Entry Type column to find transfer-related transactions.
   TIP:  You can also click the Filter drop-down list and choose Show Available Filters. Then, from the Entry Type drop-down list choose Transfer from or Transfer to. 
5. Click the transaction to view the details of it. 

NOTE:  You can associate supporting documents (such as a form giving permission to transfer funds) with the transaction. To do this complete the steps in this section. On the Viewing Posted Transfer window, click the Document attachments icon and then browse to and select the file you want to associate with the transaction.