How do I transfer money from the church savings account into the general fund?

by Patrick Shannon
(Salinas CA)

I'm trying to transfer funds from savings into checking then to the general fund so that all accounts can show that the transaction took place.

I'm using Quickbooks for non-profits.

If I just use the transfer option under the banking menu it will not move the money into a fund. If I then do a journal entry from checking to a fund I end up with a double deposit. How do I deal with this?

Know the answer? Face the same situation? Please post your answer or comment by using the "comment" link below. Thank you!

Comments for How do I transfer money from the church savings account into the general fund?

Click here to add your own comments

May 04, 2019
Transferring Funds in QuickBooks
by: Vickey

Showing a transfer of money from one asset account (savings) to another (checking) is and easy task.

Simply assign the asset account you are transferring the money to, but be aware that in so doing you are creating another transaction in that other asset account.

For example, to show a $1000 transfer from the savings account to the checking account... you would assign the checking account to that "expense/spent" and QB will automatically generate a corresponding "deposit/received" transaction in the checking account register.

See more about transfers on this page:

I would have to know more about how you are tracking "funds" to answer the second part of your question; however, be aware that simply transferring money from one asset account to another has nothing to do with transferring funds.

The amount stays in whatever "fund" you assigned in the original deposit. So you are correct in that you would need to do a journal entry to transfer to another fund.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to QuickBooks.

If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.

Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)

Share this page:
Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.