Transferring Money Between Funds
This guide explains how to transfer money between Funds in ChurchTrac so your church can keep all designated money accurate and organized.
What You Need to Know
In ChurchTrac, Funds are used to designate money for specific purposes, like building projects, missions, or ministries. Transferring between Funds moves money from one designation to another without affecting your overall Bank Account balances.
Fund-to-Fund Transfers: Moves money horizontally between Funds on both the Balance Sheet and Income Statement. On the Balance Sheet, this moves money from one column to another, but inside the same account (row).
On the Income Statement, it moves from one column to another within the "Transfers Section" (below Income and Expense).
What if I need to transfer money from another Account? Learn more about Account-to-Account Transfers ›
Step-by-Step Instructions
Follow the steps below to transfer money between funds.
Step 1. Start a Transaction from Your Checking Account
Go to Accounting -> Accounts and select the Bank Account where the money is currently held (the row on your balance sheet).
Then, choose "Add Transaction."
Step 2. Select the "Fund-to-Fund Transfer"
In the transaction overlay (dialog), choose "Fund-to-Fund Transfer" from the Transfer Type dropdown.
Step 3. Enter Transfer Details
Enter the amount you want to transfer, then select the Fund you are transferring from, and the Fund you are transferring to (the two columns on your Balance Sheet). Finally, add the "Reason for Transfer" in the description, such as "Transfer $500 to Missions Fund."
Before saving the transaction, ChurchTrac will display a snapshot from your balance sheet showing you the amounts in the two Funds after the transfer is complete.
Review your entries and then choose "Save." ChurchTrac will automatically move the money between the selected Funds.
FAQs
Here are some frequently asked questions about Fund-to-Fund Transfers in ChurchTrac...
Can I transfer money between Categories?
No. Money should not be moved between Categories. You only move money between Funds, because Funds are where money actually lives. Categories should never be treated as buckets that “hold” money. Rather, they are labels to categorize Income and Expense transactions for reporting and budgets. Learn more ›
Do Fund-to-Fund transfers affect my Balance Sheet?
Fund-to-Fund transfers affect both the Balance Sheet and the Income Statement, while Account-to-Account transfers only affect the Balance Sheet.
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 $500 to Missions Fund." This helps keep your records clear and makes reporting easier.