Entering clearing account transfers

Before you start

Make sure you have a clearing account in the Cash Accounts range in the general ledger.

To enter clearing account transfers:

Transfer the funds from the source account to the clearing account:
1. Open 1-1 Checks and Bank Charges.
2. In the Account# box, enter the cash account from which you need to transfer the funds.
3. In the Check# box, enter the bank transaction number or a dummy transaction number.
4. In the Date box, enter the date of transfer.
5. In the Description box, type a brief description of the transfer.
6. In the Status list, click 1-Open.
7. In the grid:
  1. In the Account cell, enter the clearing account to which you are transferring funds.
  2. If the selected account has subsidiary accounts, enter the number in the Subaccount cell.
  3. In the Debit Amount cell, enter the amount of the transfer.
8. Click Edit > Period, and then verify that the posting period is correct.
9. Click File > Save.
Transfer the funds from the clearing account to the destination account:
1. Open 1-2 Deposits and Interest.
2. In the Account# box, enter the cash account into which you need to transfer the funds.
3. In the Deposit# box, enter the bank transaction number or a dummy transaction number.
4. In the Date box, enter the date of the transfer.
5. In the Description box, type a brief description of the transfer.
6. In the Status list, click 1-Open.
7. In the grid:
  1. In the Account cell, enter the clearing account you used in step 1.
  2. If the selected account has subsidiary accounts, enter the number in the Subaccount cell.
  3. In the Credit Amount cell, enter the amount of the transfer.
Click Edit > Period, and then verify the posting period.
Click File> Save.

Tip: You can verify the complete transfer of funds by viewing the clearing account balance in 1-7 General Ledger Accounts.