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GL-L - Transfer Bank Account Funds

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Purpose of Program

 

Use this program to record transfers from one of your checking accounts to another.  For example, you may want to transfer funds from your general account to your payroll account prior to running payroll.  A completed transfer posts to the Other Journal and to the G/L Transaction File, as well as creating deposit and withdrawal records in the G/L Check Register.

 

General Program Operation

 

       

When the screen above is displayed, type in the Date of Funds Transfer as a standard date.  The program uses this date in the form of YYMMDD (i.e., 040301 - March 1, 2004) as the invoice number for the transaction file and as the check/deposit number as appropriate in the check register. 

 

 

The program displays a menu of bank accounts from which you must choose.  Use the UP and DOWN ARROW keys to move the menu bar to highlight your choice, then press ENTER or enter the number to the left of the bank name. The name of the bank account you chose is then displayed in the From Bank Account field, and a pop-up menu is displayed for you to choose the bank to which you are transferring funds.  Repeat the menu choice procedure to select the target bank account. 

 

Once the bank accounts are selected, type in the dollar amount of funds to transfer.  The balances for both accounts are displayed for your reference.

 

The beginning balances can have negative or zero values and transfers which exceed the beginning balance are possible, though not recommended.  The balances shown come from the appropriate G/L account current amount. 

 

Next enter the Amount of Funds to Transfer.  Once you press ENTER in that field, you are asked if you wish to save the transfer.  If you answer Y, the transfer is posted and you are returned to the main menu.

 


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