Bank Transfers

Julie White
Julie White
Third Anniversary
in Blackbaud Financial Edge NXT® General Discussions

How do you all record bank transfers, specifically related to a zero balance account (ZBA) which occur everyday? I really hope the solution is NOT a journal entry. I am thinking it would work through Treasury>Deposits but looking for feedback! Thanks.

Comments

  • Nicholas Murphy
    Nicholas Murphy
    Tenth Anniversary Kudos 1 Name Dropper Participant

    We set up a separate bank account in FE for the sweep/loan (where the funds go to) and do adjustments for the transfers to and from. This way you can use reconciliation features on both accounts to reconcile the balance of the originating account and the sweep/loan account.

Categories