About transferring funds

You can transfer funds between accounts in the 1-1 Checks/Bank Charges or the 1-2 Deposits/Interest  window. When you transfer funds directly from one account to another, Sage 100 Contractor creates a single record for the transfer. The record of the transfer appears in the check reconciliation of both accounts until you clear it from one account or the other. After clearing the transaction for one account, it does not appear in the reconciliation for the other account. As this might prove confusing, it is a good idea to use a clearing account when transferring funds.

While using a clearing account requires a few extra steps, this type of transfer has a distinct advantage over the direct method. To transfer the funds using a clearing account requires you to enter two transactions. When reconciling bank statements, each account then has a transaction to clear. If you decide to use a clearing account for this purpose, create a clearing account in the Cash Accounts range in the general ledger.