Account Transfers

Overview

Account transfers in CloudOnex Business Suite allow you to move funds between your different bank and cash accounts. This feature is essential for accurately tracking internal money movements without recording them as income or expenses.

Making a Transfer

Basic Transfer Steps

1. Navigate to Accounting → Transfer
2. Select the following required information:
   • From Account (Source account)
   • To Account (Destination account)
   • Amount
   • Date
   • Description

When to Use Transfers

Common Transfer Scenarios

1. Cash to Bank Deposits

• When depositing cash from your petty cash to your bank account
• Example: Moving $500 from Cash Box to Main Banking Account

2. Bank to Bank Transfers

• Moving money between different bank accounts
• Example: Transferring funds from Operating Account to Savings Account

3. ATM Withdrawals

• Recording cash withdrawals from bank accounts
• Example: Moving money from Bank Account to Petty Cash Account

4. Digital Wallet Transfers

• Moving funds between digital payment systems and bank accounts
• Example: Transferring from Bank Account to Payment Processing Account