Transfer Funds Between Properties
At times you might find it necessary to "move" the cash flow from one property to pay for another's expense, to reflect the transferring of funds from one property ledger to another, follow the steps below:
1. Head into the Property ledger that has the positive cash flow you wish to transfer. Post an expense transaction for the amount you wish to transfer, using the Owner Disbursement category.
If the funds are moving from one bank account to another, select the appropriate account the funds are to be pulled from. In the Memo portion of the transaction, you can indicate the property you are transferring the funds to. If the funds are not actually leaving a bank account, select "None."
2. Head into the property ledger that you want to post the transfer to. Post an income transaction for the amount you are transferring, using the Owner Contribution category.
Again, if the funds are not actually being deposited into a bank account, select "None." If the funds are moving from one bank account to another, select the appropriate account the funds are being deposited into. In the description field, indicate the property you have received funds from.
Note: you may need to add an Owner Contribution income category before processing this task.
Instructions on how to add a category can be found here: Setting Up Categories (Chart of Accounts)