How do I transfer money between Books/Funds [FAQ]

Separate books (or funds) represent entirely different financial entities, or “companies.” So moving money between them requires certain steps.

» To interpret the transfer as a loan:

Granting the money:

1. Giving Fund—Write a check or other payment type to the Receiving Fund using a liability account.
2. Receiving Fund—Deposit the money into a liability account.

Paying it back:

1. Receiving Fund—Send payments to Giving fund by writing check using the liability account.
2. Giving Fund—Received payment by depositing into a liability account.

» To interpret the transfer as a gift:

1. Giving Fund—Write check to Receiving Fund using an expense account.
2. Receiving Fund—Deposit money into an income account.