Use this page to record the transfer of money from one account to another.

Things to keep in mind when using the Cash Transfer transaction:

• You cannot transfer cash to or from the Petty Cash account.
• Never use offsetting Income and expense transactions to transfer cash between accounts. If you do, Club Accounting Online will treat the transactions as taxable events.
• Never use a transfer transaction to correct a negative balance in an account unless an actual cash transfer took place.

Uses for the Cash Transfer transaction

• If the club has a local bank account, and a separate broker account, the Cash Transfer Transaction can be used to reflect money being moved between those two accounts.
• If the club has sent a check as part of a member payout, using the Cash Transfer transaction can provide a way of showing that the money is in transit, unavailable for use. Accomplish this kind of transfer as follows:

• Enter the member withdrawal as usual, but when selecting what account to pay from, choose Suspense.
• When the club sends the member a check, enter a transfer from the Bank or Broker account into suspense; this can be very useful if the club is paying a member out using installments.