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Transfer Income/Expenditure from one code to another

Learn how to transfer internally income or expenditure from one ledger code to another.

Written by Cristina Gruita

In order to transfer Income or Expenditure, you will need to create an Internal Transfer journal:

  1. Go to Transactions, then click Journals.

  2. Select Internal Transfer, then click the blue add button.

  3. Complete the mandatory fields:

    • Date.

    • Period.

    • Description.

  4. Click the Add Row button.

  5. Complete the fields. Mandatory fields will be:

    • Debit/Credit.

    • Description.

    • Cost Centre.

    • Ledger.

    • Fund.

    • Amount.

  6. Click Submit.

📌Note:

  • The Reference * will be automatically generated once the journal has been submitted.

  • If you would like to transfer expenditure you will need to Credit the incorrect Cost Centre and Ledger Code and Debit the correct Cost Centre and Ledger Code combination. If you would like to transfer income you will need to Debit the incorrect Cost Centre and Ledger Code and Credit the correct Cost Centre and Ledger Code combination.

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