In addition to tracking your Bank Accounts and related transactions in Crimson, you can also use the Transfer Funds Treasury feature in Crimson to show a transfer of money between one Bank Account to another. These internal transfers are used to track up to date Cash On Hand details for each bank account managed in Crimson only. These details do not appear on any related FEC reporting. For more information on tracking Account information in Crimson please see Crimson 3: Account Codes and Financial Summary – Reconciliation.
- To begin a funds transfer, navigate to the Financial Summary
- Once there, click the Transfer Funds icon.
- In the Transfer Funds window that appears, select the Account and Fund Code used to transfer from and the Account and Fund Code to show the transfer to.
- Then pick a Date, Amount, and the optional Comment field.
- Click in the bottom right-hand corner of the screen.
- In the blue bar that appears at the top of the screen, click either Yes to complete the transfer or No to cancel the transfer.
- If you click Yes, the transfer of funds will be recorded in Crimson.
Viewing the Funds Transfer
After a transfer of funds is completed, Crimson will automatically create a corresponding Treasury Receipt and Expenditures transaction. View and edit existing receipts and expenditures on the Treasury dashboard. Or visit the Financial Summary dashboard and look at the Cash Balances card on the bottom left part of the screen. Then click on the name of the Bank Account to view that accounts related Treasury transactions.
On the right side, the account register for the selected account will appear. As you can see, the example transfer of funds above has resulted in a Funds Transfer expenditure for that account.
To view the expenditure, click the icon. The details will show that Crimson automatically assigned the transaction the NRIT – Non-Reportable Internal Transfer line number.
Similarly, select the account that received funds from the transfer. The Accounts Register will show the Funds Transfer, but as a Receipt.
To view the receipt, click the icon. The details will show that Crimson automatically assigned the transaction the NRIT – Non-Reportable Internal Transfer line number.