Task guide
Transfers between the firm's accounts
Moving money between two of the firm's own accounts of one fund, signed as the paying account's mandate asks and carried out as one journal.
What a transfer moves
A transfer moves money between two of the firm's live accounts of the same fund: office money from one office account to another, or one matter's client money from one client account to another. Money from a client account to an office account is not a transfer: it is a transfer to office against a bill, asked for and approved as client money.
Preparing a transfer
- Choose Move money under Finance, Banking, Transfers, or Move money to another account from an account's actions.
- Choose the account it leaves and the account it reaches; only accounts of the same fund are offered.
- For client money, choose the matter whose money moves.
- Give the day, the amount, what the bank credited where the two accounts' currencies differ, the bank's reference if there is one, and the reason.
- Prepare. The transfer's own page opens.
Signing and carrying it out
The transfer's page shows where it stands against the paying account's mandate, such as Needs one more signature, and each signature given. A signatory of the paying account chooses Sign, with the password again; the person who prepared it does not sign it. Withdraw my signature takes one's own signature back.
Once the mandate is met, Carry out, with the password again, posts one journal moving the money. Each side then clears on its own account's statement. Client money never leaves an account that does not hold it for the matter.
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- Bank accountsOpening a bank account or mobile money wallet with its opening balance, accounts held for one client, changes to where an account is held that somebody else approves, and retiring an account.
- Move client moneyTransfer client money to office against a bill, refund it by payment voucher, pay a disbursement from it, or move it to another of the client's matters, each asked for, approved by somebody else and carried out.
- Reconciling the bankImporting each bank's statement, matching it to the books, the reconciliation one person prepares and another reviews, the three way reconciliation of a client account, and the month close it holds.