Journal Transfer

The journal transfer function lets you move money from one ledger to another. Common uses are to move money from one property to another when the properties are owned by the same owner; and to record a management fee/leasing fee transaction between an owner and the management group.

When a management group takes a leasing fee, for example, not only must you indicate how much to debit the owner and credit the management group, and what accounts to use, you must also indicate what bank account holds the cash. This keeps each ledger in balance, but the balance of the bank account will not change.

This function is not intended for everyday use. It provides a means to post transactions where there is no other alternative. When making an entry, you will need to know all the details about what you are trying to do - which ledger and account balance to increase (credit), which to decrease (debit) - before proceeding.

Before a transaction can be posted, the debits and credits must match - therefore there must be at least two line item entries.

Date

Use this date field to enter the effective date of the transaction.

Reference

This field defaults to Journal Voucher but can be changed to whatever you want.

Bank

Select the bank account from the Find List.

Memo / Comment

Enter any appropriate memo and comment. Memos appear on statements, comments do not.

Cash/Accrual/Modified Cash

Do hot change these checkbox settings.

Credit / Debit / In Balance

A running total of credits, debits and their total is maintained in these three protected fields. In order to post, the credits must match the debits, i.e. the third field name must read In Balance and be equal to zero. As you enter line items, the third field name will change to indicate Decreases Needed or Increases Needed with the amount of the increase or decrease.

Line Items

To add additional line items click in the area below the last line item to open a new edit line. You can enter as many line items as you want and can post them only if the debits and credits are "in balance".

Account

Choose the account from the Find List.

Ledger

Choose the affected ledger from the Find List.

Debit or Credit

This will reflect Credit or Debit based on the type of account chosen. If it is an Income type account, the field will fill in Credit if an Expense type account the field will fill in Debit.

Amount

Enter the amount of the credit or debit. If the Debit or Credit column says credit and you want to debit the account, use a negative amount. A negative amount for a debit posts as a positive credit.

Then do the same for the next line item in the amount of the credit or debit.

New/Post

Click <New> to record the transfer if you are going to enter another. Click <Post> if you have no other transfers to record.

Example

ebx_-1329252317

Note:

If the Journal Transfer is between an owner/property and the management group, enter the owner/property line first. This will fill the owner/property long description into the cross reference field of the management group line item. When entering multiple owner/property line items, enter the management group line item first, otherwise only the first line item’s long description will fill in the management group cross reference field.