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 ›
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.