Transferring Money Between Bank Accounts

This guide explains how to move money between accounts in ChurchTrac so your church can keep all balances accurate and organized.

What You Need to Know

In ChurchTrac, "Accounts" represent bank accounts or other financial institutions where your church holds money. Moving money between Accounts updates your Balance Sheet without affecting income or expense reports.

Account-to-Account Transfers: Moves money vertically between Bank Accounts, but within the same Fund (the same column on your balance sheet).

What if I need to transfer money between two Funds? Learn more about Fund-to-Fund Transfers ›

Note: Money should not be moved between Categories. Categories are labels for identification, not buckets that “hold” money. Learn more ›

When Moving Money Between Both Accounts and Funds

Account-to-Account Transfers and Fund-to-Fund Transfers are two separate actions that must be completed in the correct order and in the correct account.

If you are moving money to a different account and a different fund, you must:

First complete the Account-to-Account Transfer.

Then go into the receiving account to complete the Fund-to-Fund Transfer.

For example:

You want to transfer money from the Checking Account-General Fund to the Savings Account-Building Fund.

First, process the Account-to-Account Transfer from Checking to Savings.

At this point, the money now lives in the Savings account on the Balance Sheet.

Next, process the Fund-to-Fund Transfer from General Fund to Building Fund.

The Fund-to-Fund Transfer MUST be completed inside the Savings account.

If the Fund-to-Fund Transfer is instead completed in the Checking account, the system shifts fund balances within Checking (where the money no longer exists), resulting in negative or incorrect Balance Sheet balances.

Step-by-Step Instructions

Follow the steps below to transfer money between accounts.

Step 1. Start a Transaction in the Bank Account You Want to Move Money From

Go to Accounting -> Accounts and select the account you want to transfer money from.

Then, choose "Add Transaction."

Step 2. Select the Account-to-Account Transfer Transaction Type

In the transaction overlay (dialog), choose "Account-to-Account Transfer" as the Transaction Type.

Step 3. Enter Transfer Details

Enter the amount you want to transfer, then select the account you are transferring to. Add a reason or description for the transfer, such as "Transfer $1,000 from Checking to Savings." Review your entries and click "Save."

ChurchTrac will automatically create a matching entry in the other bank account (one where the money is subtracted/the other added).

FAQs

Here are some frequently asked questions about Account-to-Account transfers in ChurchTrac...

Can I transfer money between funds and accounts at the same time?

No. Account-to-Account Transfers only move money between accounts within the same fund. For moving money between funds, see the Fund-to-Fund Transfer guide.

Can I add a reason for the transfer?

Yes. In the transaction screen, use the description or reason field to note the purpose of the transfer, such as "Transfer $1,000 from Checking to Savings." This helps keep your records clear and makes reporting easier.

Do Account-to-Account transfers affect my Balance Sheet?

Yes. Account-to-Account transfers update the balances for both accounts on your Balance Sheet. They do not affect income, expenses, or Fund Reports.