In school fund accounting, moving money between internal accounts is a tightly regulated procedure. The Transfers module enables bookkeepers to reallocate balances between internal fund accounts (e.g., subsidizing a field trip from a general activity account) or transfer cash between bank accounts while ensuring complete mathematical balance.
Transfers Manager & Categories
Navigate to Transfers in the top navigation bar. The manager table is organized into three distinct sub-tabs:
Fund Transfers: Internal reallocations between school fund accounts. Does not change the school's total cash balance.
Bank Transfers: Physical cash transfers between designated school bank accounts (e.g., from Money Market to Operating Checking).
Bank Adjustments: Documented adjustments for interest earned, bank service charges, or reconciled discrepancies.
đĄ Best-Practice Adoption Tip: Always provide a detailed explanation in the Reason for Transfer field (e.g., "Approved athletic department subsidy for cheer team regional travel per board minutes 10/12"). Auditors closely scrutinize fund-to-fund transfers to verify that restricted funds were not improperly reallocated.
Creating a Fund-to-Fund Transfer
To transfer balances internally, click the blue Fund to Fund button at the top right:
Date: Select the effective transfer date.
Reason for Transfer: Enter a clear, audit-compliant justification.
Transfer From (Source): Select the fund account being debited and input the amount. The system verifies that the source fund has sufficient unencumbered funds.
Transfer To (Destination): Select the receiving fund account being credited. The subtotal of the destination funds must equal the source subtotal exactly.
Post Transfer: Review the live summary card and click Post Transfer to finalize the transaction.
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