This article is for users who want to use the cash transfer function to track money moved between your business accounts.
For example, your business may transfer from your savings account to pay your loan account. Or, record your payment to your credit card account by transferring cash from your cheque account.
- Click on Home.
- Click on Cashbook.
- Click on Cash Transfers.
- Click on the Add New icon
- Enter the date in the Date field. Press the Enter key to progress to the next field.
Date of the transfer
Amount moved or being paid to your loan or credit account
Account that the money was moved out of
Account the money was moved into
Optional text, such as “Repayment”
- Click on to save.
The cash transfer creates 2 entries, one out from an account and one into an account.
- Click on to close.
No GST is generated when Cash Transfers are entered. Some users have been in the habit of using Cashbook transactions and codes to transfer cash between accounts.
These transfers should only be recorded in the “Cash Transfers” section of the Cashbook. All bank accounts, including loan accounts (and the AWB Loan Accounts) should be listed in the bank account setup. Any draw-down or repayment of these loans should be recorded as cash transfers, not as transactions.