Send transfers

Transfers is where money that moved through a bank account is recorded. Each transfer groups the incomes and expenses it paid or collected, so every movement can be traced to the bank. This guide shows how to create, confirm and correct transfers.

Only people who can see finances have Transfers in the side menu.

Open the page

Choose Transfers in the Finances group of the side menu. The page has two parts: the transfers already recorded, at the top, and Reconcile, with the paid movements that are not part of any transfer yet.

Choose what to see

Above the tables, set:

• Show Validated: No shows only the transfers still waiting to be confirmed; Yes adds the confirmed ones.
• Show: All, Incomes or Expenses. Incomes keeps the transfers that brought money in and the incomes under Reconcile; Expenses keeps the transfers that took money out and the expenses under Reconcile.
• Date From and Date To: the period. It starts on the last month, up to today.
• Bank Account: the account whose transfers you see, and the account any new transfer is recorded on. It starts on the first account in the list.

If no bank account exists yet, the page shows only There are no bank accounts yet. Create one in Bank accounts to record transfers. Create one in Incomes and expenses first.

Click Go to apply them. The choices are kept in the page's address, so you can bookmark or share the link and it opens with the same view.

The dates also decide which movements appear under Reconcile. Movements are not filtered by bank account, because they have none until they belong to a transfer.

What Reconcile lists

Reconcile lists the incomes and expenses that already have a Paid Date inside the period and are not part of any transfer. A movement that is not marked as paid does not appear here.

• Incomes appear when their Type is real money: Real, Nu, Mercado Pago, BBVA or empty. Incomes From Expense or From Earnings never appear.
• Expenses appear whatever their payment method.

The Type column shows the income's type or the expense's payment method as it is stored, for example real or nu. Expenses show their total as a negative amount.

Create a transfer from movements

Use this when the bank shows a payment or a charge that matches one or more movements already recorded in Incomes and expenses.

1. Under Reconcile, tick the movements the bank transfer covered. They should all belong to the same beneficiary.
2. Click Analize transfer. The fields below are filled in from what you ticked: Requested At, with the paid date of one of the ticked movements, usually the earliest; Beneficiary Type; Beneficiary Id; and Total, the sum of the ticked movements. Description stays empty.
3. Check the date and the total against the bank, and add a Description if it helps. Leave the two beneficiary fields as they are.
4. Click Create transfer.

The transfer is recorded on the bank account chosen above, and the ticked movements move into it: they leave Reconcile and take the transfer's date as their paid date. Their type also changes to Real: an income's Type and an expense's Payment Method become Real, whatever they were before.

If none of the ticked movements has a beneficiary, you see The transfer beneficiary could not be determined. Select a movement that has a beneficiary.

Transfers that pay people or providers are usually created for you by the payment tool, so they arrive here already made.

Add VAT to an income

Click + VAT on an income under Reconcile to record a new income for 16% of its amount, on the same date. The new income is ticked, ready to go into the same transfer. The button appears only on incomes.

The new income is not linked to the original one, nor to its project or beneficiary, so it shows no beneficiary. It is recorded on the VAT service: once it is in a transfer, it counts under Taxes in Formats. If you do not put it into a transfer, it stays under Reconcile as a paid income of its own.

Confirm transfers

Once the bank shows a transfer, confirm it:

1. Tick the transfers that the bank already shows.
2. Click Confirm transfers.

Confirmed transfers leave the list while Show Validated is No.

To see what a transfer contains, click the arrow at the end of its row. Its movements appear below it, each with View to open the income or the expense. On a confirmed transfer, the x next to View takes the transfer back to waiting for confirmation.

Correct a transfer that is waiting

A transfer that is not confirmed yet shows these icons next to its date:

• The pencil, Edit, changes its date and time. Choose the new Requested At, in your own time zone, and click Save. The movements inside the transfer take the new date as their paid date too.

• The warning sign, Payed more?, appears on outgoing transfers paid to a person. Use it when more money was sent than the transfer says: type the Total Paid that really left the account and click Register loan. Then:

  • The transfer's total becomes that amount.
  • The difference is recorded as a loan the person owes, shown in Your loans.
  • An expense for the difference is added to the transfer, already paid.
  • An income for the same difference is scheduled on the transfer's date, for the person to pay it back.

  If the total paid is lower than the transfer's total, you see The total paid cannot be less than the original total of the transfer.

• The bin cancels the transfer. It first asks Delete this transfer? Its movements will be left without a transfer.; once you accept, its movements go back to Reconcile, where you can group them again.

A confirmed transfer shows none of these icons. Take it back to waiting first.

Commissions, yields and internal transfers

• + Commission appears on an incoming transfer that is waiting, when the bank account charges commissions and the transfer has none yet. It does not appear on a yields transfer. Type the commission's Total and click Create. It records the charge as an outgoing transfer to the bank, together with its expense.
• + Yields appears when the bank account generates interest. Choose the date in Requested At, type the Total earned and click Create. It records an incoming transfer described as Rendimientos, and its income.
• Internal transfer moves money between two of the company's own accounts. Choose From Bank Account and To Bank Account, the Requested At date and the Total, and click Create. You get two transfers, one leaving the first account and one arriving at the second, both described as Transferencia interna. If both accounts are the same you see The destination account must be different from the source account., and nothing is recorded.

In all three windows the Total must be above zero. Otherwise you see The amount must be greater than zero. under it, and nothing is recorded.

Commissions and yields are recorded against a provider with the same name as the bank account. If there is none, you see No provider called followed by the account's name and was found., and nothing is recorded; yields also need a service called Rendimientos, or you see No service called Rendimientos was found.