Transfer Funds Quick Start: Difference between revisions

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(Created page with "Jewel allows two types of transfers, both done in the Transfer Funds screen. You can transfer funds between two Bank Accounts, such as from checking to savings. Or you can (with Church Board approval) transfer funds between two Local Funds, such as from Church Budget to Utilities. Best practice for transfers is to enter them before starting the month-end closing process, but they can be entered at any time during the month, up until you Print Monthly Reports. To trans...")
 
 
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Jewel allows two types of transfers, both done in the Transfer Funds screen. You can transfer funds between two Bank Accounts, such as from checking to savings. Or you can (with Church Board approval) transfer funds between two Local Funds, such as from Church Budget to Utilities.  
The “Transfer Funds” tool in Jewel provides a clean, simple way to record money that is being moved between Bank Accounts or between Local Funds.


Best practice for transfers is to enter them before starting the month-end closing process, but they can be entered at any time during the month, up until you Print Monthly Reports.
Best practice for transfers is to enter them before starting the month-end closing process, but they can be entered at any time during the month, up until you Print Monthly Reports.
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To transfer funds in Jewel, follow these instructions:
To transfer funds in Jewel, follow these instructions:


# Click on Transfer Funds on the Home Screen.
# Click on Transfer Funds on the Jewel Home Screen.
# The date (in the upper left corner) defaults to today's date, but can be edited if needed. Use the Memo field to indicate the reason for the transfer, such as "Per Board vote on 5/17/26" or "To zero out at month end".
# The date (in the upper left corner) should be the date you transferred the money at the bank, or the date you wish the local funds to be transferred. Use the Memo field to indicate the reason for the transfer, such as "Per Board vote on 5/17/26" or "To zero out at month end".
# You have the option to transfer in or out of multiple accounts. This is in case you need to take money from multiple funds to put into one OR take money from a single account and divide it among multiple funds. Select whichever method you would like to use by clicking the small white circle beside your preferred option. Notice how the screen changes when you select either one. It will expand the TO or FROM accounts so that you can enter multiple accounts. If you are making a transfer from a single account into a single account, it does not matter which of these is selected.
# You have the option to transfer in or out of multiple accounts. This is in case you need to take money from multiple funds to put into one OR take money from a single account and divide it among multiple funds. Jewel will expand the TO or FROM accounts, depending on your selection, so that you can enter multiple accounts. If you are making a transfer from a single account into a single account, it does not matter which of these is selected.
# Now, select the account(s) the money is being transferred ''out'' of - either by typing it in or selecting from a list with the down arrow. Then for each account type in how much money is to be transferred. To insert an account, either press ENTER after the previous account keyed in, OR click the insert button.
# Now, select the account(s) the money is being transferred ''out'' of - either by typing it in or selecting from a list with the down arrow. Then for each account type in how much money is to be transferred. To insert an account, either press ENTER after the previous account keyed in, OR click the insert button.
# Next, select the account(s) the money is being transferred ''in'' to and how much money is to be transferred in. The amount being transferred ''in'' must be the same as the amount you transferred ''out''. You can't take $50 out and transfer in $60!
# Next, select the account(s) the money is being transferred ''in'' to and how much money is to be transferred in. The amount being transferred ''in'' must be the same as the amount you transferred ''out''. You can't take $50 out and transfer in $60!
# When finished, click OK and you're done! Jewel will make the appropriate adjustments in the records.  
# When finished, click OK and you're done! Jewel will make the appropriate adjustments in the records.  


Note that you can look at a record of previous transfers by clicking the "Transfer Report" button.
:'''''NOTE:''' You can access your Transfer Report directly from this screen via the "Transfer Report" button.''


[[File:Transfer_Funds_screen.png|center|600px]]
[[File:Transfer_Funds_screen.png|center|600px]]
==Reconciling Transfers==
When reconciling a transfer, be aware that one half of the transfer will show up in the "wrong" section of the bank reconciliation. That is, a deposit may show up in the Checks section with a negative amount, and a withdrawal may show up in the Deposits section with a negative amount. So be sure to look in both sections of the bank reconciliation before deciding that a deposit "isn't there". If you're sure you entered a transfer, but can't find it in the bank rec, do not enter another transaction to "fix" the problem. Ask for help, so the problem can be resolved as soon as possible.
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[[Quick Start Guide to Using Jewel|Click here for more topics related to Quick Start Guide to Using Jewel]]
[[Entering Common Transactions|Click here for more topics related to Transferring Funds]]

Latest revision as of 00:39, 31 December 2025

The “Transfer Funds” tool in Jewel provides a clean, simple way to record money that is being moved between Bank Accounts or between Local Funds.

Best practice for transfers is to enter them before starting the month-end closing process, but they can be entered at any time during the month, up until you Print Monthly Reports.

To transfer funds in Jewel, follow these instructions:

  1. Click on Transfer Funds on the Jewel Home Screen.
  2. The date (in the upper left corner) should be the date you transferred the money at the bank, or the date you wish the local funds to be transferred. Use the Memo field to indicate the reason for the transfer, such as "Per Board vote on 5/17/26" or "To zero out at month end".
  3. You have the option to transfer in or out of multiple accounts. This is in case you need to take money from multiple funds to put into one OR take money from a single account and divide it among multiple funds. Jewel will expand the TO or FROM accounts, depending on your selection, so that you can enter multiple accounts. If you are making a transfer from a single account into a single account, it does not matter which of these is selected.
  4. Now, select the account(s) the money is being transferred out of - either by typing it in or selecting from a list with the down arrow. Then for each account type in how much money is to be transferred. To insert an account, either press ENTER after the previous account keyed in, OR click the insert button.
  5. Next, select the account(s) the money is being transferred in to and how much money is to be transferred in. The amount being transferred in must be the same as the amount you transferred out. You can't take $50 out and transfer in $60!
  6. When finished, click OK and you're done! Jewel will make the appropriate adjustments in the records.
NOTE: You can access your Transfer Report directly from this screen via the "Transfer Report" button.
Transfer Funds screen.png

Reconciling Transfers

When reconciling a transfer, be aware that one half of the transfer will show up in the "wrong" section of the bank reconciliation. That is, a deposit may show up in the Checks section with a negative amount, and a withdrawal may show up in the Deposits section with a negative amount. So be sure to look in both sections of the bank reconciliation before deciding that a deposit "isn't there". If you're sure you entered a transfer, but can't find it in the bank rec, do not enter another transaction to "fix" the problem. Ask for help, so the problem can be resolved as soon as possible.


Click here for more topics related to Quick Start Guide to Using Jewel

Click here for more topics related to Transferring Funds

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