Fund Transfers in Argenta allow you to move money between funds, accounts, or departments while maintaining accurate financial records. This is essential for reallocating resources or correcting fund assignments.
What Are Fund Transfers?
A fund transfer moves money from one fund or account to another without external transactions. Common uses include:
- Moving money between restricted and unrestricted funds
- Reallocating budget between departments
- Transferring between bank accounts
- Correcting fund coding errors
Accessing Fund Transfers
- Go to General Financials
- Click on Transfers or Fund Transfers
- View existing transfers or create new ones
Creating a Fund Transfer
- Navigate to Fund Transfers
- Click Add New
- Select the From Fund/Account
- Select the To Fund/Account
- Enter the Amount
- Enter the Date
- Add a description/reason for the transfer
- Save the transfer
Transfer Types
- Inter-Fund Transfer: Between different funds (e.g., General to Program)
- Inter-Account Transfer: Between bank accounts
- Department Transfer: Between cost centers
Accounting Impact
When you create a transfer:
- A debit is created in the source fund/account
- A credit is created in the destination fund/account
- The total organizational balance remains the same
- Both sides of the transfer appear in reports
Documentation Best Practices
- Always include a clear reason for the transfer
- Reference any board approvals if required
- Attach supporting documentation when applicable
- Use consistent transfer descriptions for similar transactions
Common Scenarios
- Grant release: Moving restricted grant funds to available upon meeting requirements
- Budget reallocation: Shifting funds between departments mid-year
- Operating to savings: Moving excess funds to reserve account
- Error correction: Fixing donations assigned to wrong fund
Reports
Track transfers through:
- Transfer listing reports
- Fund activity reports showing transfers in/out
- General ledger detail