Transfers are operations that allow you to move funds from one of the company’s financial accounts to another. For example, you can transfer money from the cash register to the bank for collection, replenish an operating account from a reserve account, or reallocate funds between the accounts of different departments or projects.
Important:
To perform a transfer, the debiting account must have the Transfer action enabled as an outgoing transaction, and the crediting account must have it enabled as an incoming transaction.
The appropriate permission—Can transfer money—must be enabled for the employee.
You can create a transfer if both accounts are in the company’s base currency, or if one account is in the base currency and the other is in an additional currency.
Transfers between two accounts in additional currencies (whether the same or different) are not possible.
How to transfer funds between finance accounts
1. On the Finance > Transactions page, on the card for the account from which you are transferring funds, click the three vertical dots in the upper-right corner and select Transfer.
2. Specify the date and time of the transfer—leave the current value or set it manually. If you select a past date, a corresponding mark will appear next to the transaction.
3. Select the account to which the funds are being transferred.
4. Specify the amount. You can enter either the starting amount or the ending amount—the other amount will be calculated automatically.
5. If needed, add a comment, change the Employee who performed the action, and click Create.
Exchange rate
If one of the accounts is in a foreign currency, a field for the exchange rate appears in the transfer form. The system automatically populates it with the current rate from the currency settings.
If necessary, you can manually change the rate—specifically for this transfer. The number must be greater than 0 and contain no more than 6 decimal places.
Changing the exchange rate during a transfer affects only this specific transaction: the current exchange rate in the settings remains unchanged.
Transfer result
In the account from which funds are debited, the transaction is recorded as an expense, and in the account to which they are credited, as a receipt.
The amount credited to the other account depends on the direction of the transfer:
if funds are transferred from a secondary currency to the base currency, you specify the debit amount, and the credit amount is calculated automatically—the debited amount is multiplied by the exchange rate;
if funds are transferred from the base currency to the supplementary currency, you also specify the debited amount, and the credited amount is calculated by dividing the debited amount by the exchange rate.
The resulting amount is always rounded to two decimal places. If the exchange rate changes later, a transaction that has already been completed is not recalculated.
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