Lesson 49-- Special Transfers

The Goldenseal accounting software program includes several transfer transactions. Use them to handle unusual situations, when you need to make adjustments that can't be handled by ordinary business transactions.

Asset Transfers

Use asset transfers when you need to change the value of an asset because of damage, improvements or changing markets, or when you sell an asset.

NOTE: When you purchase an asset, simply create an Equipment or Real Estate account, and enter the starting value.

To create an asset transfer, follow these steps:

Choose Special Transfers from the Bank menu, then choose Assets Transfers from the submenu.
Click the New button.
Enter the type of adjustment, the asset account whose value has changed, and the amount of the adjustment.
Enter the account that will be charged with the amount of the value change.

Cash Transfers

Use cash transfers to handle any transfer of funds that can't be handled through an ordinary business transaction. A cash transfer does not affect accounts payable, billing or job costs. All it does is subtract money from one account's balance, and add it to the balance of another.

When to Use Cash Transfers

Create a cash transfer to handle any unusual transaction that can't be handled with one of the other transactions in Goldenseal.

Cash transfers are most often used to transfer funds between Utility accounts, if you've set up a 'classic' set of bookkeeping accounts. You can also involve project and overhead accounts in cash transfers.

NOTE: To transfer cash to or from a cash account or a bank account, create a bank transaction and use Transfer In or Transfer Out as a transaction type.

Creating a Cash Transfer

To create a cash transfer, follow these steps:

Choose Special Transfers from the Bank menu, then choose Cash Transfers from the submenu.
Click the New button.
Enter the accounts involved in the transfer, and the amount of the adjustment.

Cost Transfers

Use cost transfers to adjust job costs. You can move costs from any job, category and location to any other job, category and location.

NOTE: Cost transfers only affect job cost reports. They have no impact on account balances, billing or accounts payable.

When to Use Cost Transfers

Use cost transfers whenever you need to adjust job costs in one or more jobs. You might use them to fix data entry errors, or to account for work done on one job that really should be costed to another. You can also use them for project job costs from before you started using Goldenseal.

Creating a Cost Transfer

To create a cost transfer, follow these steps:

Choose Special Transfers from the Bank menu, then choose Cost Transfers from the submenu.
Click the New button.
Enter the accounts involved in the transfer, and the amount of the adjustment.