CenterPoint^® Accounting - Transfer Funds between Bank Accounts

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Transferring funds between two bank accounts within the same company/fund in CenterPoint can be done two different ways depending on if a printed check is needed for the transfer.

• Transfer between Accounts (accounts are at the same bank - no check needed)
• Transfer between Accounts (accounts are at separate banks and a printed check is needed for the transfer)

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Transfer Between Accounts (Same Bank - No Check Needed)

1. Select Processes > General Journal Entries.

2. Select the appropriate Company/Fund.
3. In the Name box, select a name you wish to assign to this bank transfer. The name can also be left empty. If you choose to assign a name, then you can use the Recall button to simplify data entry on future bank transfer transactions.

4. In the Transaction Number box, a sequence number will automatically be assigned.
5. Enter the transfer Date.

6. In the grid, enter the following information into the first row:
   • In the Account box, select the bank account the money will be transferred into.
   • In the Debits column enter the amount being transferred.
7. In the second line of the grid, enter the following information:
• In the Account box, select the bank account the money will be transferred from.
• In the Credits column, again enter the amount being transferred.

8. Click Save.

Transfer Between Accounts (Separate Bank - Check Needed)

1. Select Processes > Purchases > Payments.

2. Select the Bank Account the check will be written from.
3. In the Pay To The Order Of field, select the name of the bank the money will be deposited into.
4. Enter the appropriate Check Number, Date and Amount.
5. In the grid, select the Account the amount will be deposited into.
6. Select the Print button.

7. Click Save to complete the transaction and print the check.

Document: 3112

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