Trust Accounting Q&A: Transferring Between Trust Accounts

January 2021    Tags: ,

I need to transfer money from one trust account to another trust account. How do I record the process in the software?

We recommend using positive and negative EFT transactions to transfer the amount from one account to another. A positive EFT will reduce a trust balance, while a negative EFT will increase a trust balance.

To transfer funds from one trust account to another

  1. From the File menu, point to Open and select Transaction.
  2. Select the Trust ID from which you want to remove funds.
    1. Select a Type of EFT.
    2. In the Amount field, enter a positive amount.
    3. Enter any other information as needed.
    4. Press Ctrl+S.
  3. Select the Trust ID to which you want to move funds.
    1. Select a Type of EFT.
    2. In the Amount field, enter a negative amount.
    3. Enter any other information as needed.
    4. Press Ctrl+S.
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