Please enable JavaScript to view this site.

Phoenix - User Help

There is a function in Phoenix to move funds from one account to another.  Only one side of the transaction needs to be entered, Phoenix completes the other side.  There are many cases where a transfer would be used. Here are some examples.

 

Loan Repayment

Transfer from bank account to loan account.

 

Investment

Transfer from bank account to investment account

 

Purchase of plant

Transfer from bank account to Asset account

 

Sale of livestock

Transfer to bank account from livestock account

 

Credit card payment

Transfer from bank account to credit card account

 

Payment from debtor

Transfer from debtor to bank account

 

Refund to customer accounts

Transfer from bank account to the customer account

 

Refund from supplier account

Transfer from the supplier account to the bank account

Phoenix can apply these transfers in two ways:

Account transfer

Linked entry

Where the amounts would not need to be reported as cashflow, they should be entered as an Account transfers. An example of this would be transfers to investment accounts or payments to credit cards. GST is not calculated on direct transfer transactions and therefore is NOT included in the GST Control Account.

A linked entry should be used whenever the funds moved or converted should appear on a cashflow report. This would be the case for livestock or commodity transactions.  In a linked transaction entry GST is calculated and included in the GST Control Account as normal.

Linked Entry

Account Transfer

Editing / Deleting Linked Transactions & Account Transfers

©2024 AGDATA Holdings Pty Ltd trading as AGDATA Australia