Moving Funds From One Project To Another

As a designer, you can be working on more than one project at a time for the same client. This guide will walk through how to move funds from one project to the other if you find yourself in this position.

Funds must be in one of the Client/Projects Funds Available accounts. You'll need to post two payments.


Step 1. Click Accounting>Money In

Step 2. In Insection 1, set the Payment Method is set to Receive Client Payment

Step 3. In section 2, set the Received From to the Client/Project you are trying to move funds from.

Step 4. Set the Cash Account to "Suspense".

Note: The Suspense account acts as a holding account to place the money into in order to remove from the current project and then deposit it into the other project.


Step 5. Enter "Transfer" as the Check #. 

Step 6. Set the amount as a negative ( -2000)

Step 7. Label the description Transfer To "name of the project".

Step 8. Click Post Payment.



Now you need to apply the payment to the new project.

Step 1. Click Accounting>Money In

Step 2. In Insection 1, set the Payment Method is set to Receive Client Payment

Step 3. In section 2, set the Received From to the Client/Project you are trying to move funds from.

Step 4. Set the Cash Account to "Suspense".

Step 5. Enter "Transfer" as the Check #. 

Step 6. Set the amount as a positive (2000)

Step 7. Label the description Transfer From "name of the project".

Step 8. Click Post Payment.

 

Note: If you need to print a report for the client, I suggest printing a “receipts” report and running it by the date you made the transfer. If these were only receipts recorded for that date it will show you the negative and positive receipts being transferred.