How to do Bank Transfers in Aplos

Transferring money between your bank accounts is very simple in Aplos. This transaction can be entered in the Register or Journal Entry screen. An example of this type of transaction would be if you need to transfer $1,000 from your Savings account to your Checking.

How to record in the Register:

When in the Register, select the bank account from which you are transferring money at the top of the screen. To use the above example, this would be Savings. The entry line will have the date of the transfer, the name of your bank as the Payee, the destination bank as the account (Checking), and a payment value for the amount being transferred. This acts like one bank is paying another; see the screenshot below.

How to record in Journal Entry:

When using Journal Entry, you will need to use the debit and credit columns to post the transaction. The debit column will be the bank the money is being transferred to (Checking), and the credit column is the bank the money is coming from (Savings). See the screenshot below.

journal-entry-example-bank-transfer

Transferring Money Between Banks and Funds:

If you need to transfer money between bank accounts and funds, it requires two transactions. The first moves the amounts from the source to the destination fund. The second transaction moves the money between your banks.

Example, let’s say you are moving money from your Missions fund in your Savings account, into your General fund in your Checking account. The first transaction will take place in Journal Entry. Once on this screen, click “+ Start New Fund Transfer”. You will then move money from the Missions fund to General fund within your Savings account. See screenshot below:

journal-entry-sample-fund-transfer

Once the money is transferred between funds, you can now transfer it between your bank accounts. This repeats the process explained above.

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