What is internal transfer and how to add one

internal transfer, bank account, siblings, adding payments, entered manually

INTERNAL TRANSFER:

----> it is a type od payment - easily recognizable from cash payment/bank transfer/initial credit
----> it is only used for internal "re-accounting" - whether between different persons (e.g. siblings) or between payment plans for one person
----> it is always entered as a pair of records - with the same amount, one of which is negative

USING

Internal transfer is most often used with siblings - when one has an overpayment (e.g. leaving school) and the parents want to transfer the money to the other child in the same school.

HOW TO ADD INTERNAL TRANSFER

Initial transfer can be added via Add payments - Entered manually. There is need to add a pair of records - one amount with a positive sign and the other with a negative sign. You can also add the note to the Information for recipient - reason why you add the internal transfer.

In our example student Bystrý Gabriel has an overpayment from the school club (he cancelled attending of the school club). This overpayment can pay the fee of his brother Ján so we used the internal transfer to do this.

WHERE CAN BE SEEN INTERNAL TRANSFERS

You can filter the Type of payment - Internal transfer in the Payments:

In other overviews, internal transfers have their own separate columns. Hidden columns can be displayed via the icon "table" (2.)

For more helps regarding payments please see Payments