Transfer Funds

Objective: Provide and overview of the Transfers function an Vantaca and understand how to execute transfer. 

Navigate to the Transfers menu by selecting Accounting > Transfer Funds. 

There are several import items to note when using the Transfer Funds function in Vantaca.  

- To actually transfer funds at the bank, one of the two accounts selected must be with an integrated bank. 

- To actually transfer funds at the bank the Move Funds check box must be checked. 

- The Transfer Funds window writes the GL to both cash accounts and records the transaction on the bank register, therefore a manual GL entry is not required.  (One reason you would choose to include a GL would be to record reserve contributions - Debiting reserve expenses and crediting reserve equity. This additional entry function is enabled by checking the Additional GL entry checkbox) 

- Recurring transfers can be set up with a defined start and end date. (This is most commonly used for reserve contributions) 

-  Transfers cannot be made between associations in Vantaca. 

- Use of the transfer screen without checking the Move Funds box to record a transfer that happened outside of Vantaca.