*********NOTE* - Due to changes in labeling, all references to Bills have been changed to Invoices, and all references to Billings have been changed to Time Entries in the Guide below. At some point, the Video above may also be updated. *************

Transfers in Curo365 are just what they appear to be – it’s a way of Transferring funds from one Matter or Matter-Specific Account to another without having to first Disburse funds, create a new Payment, and re-Allocate it. This process is extremely straightforward, so keep reading and let’s get our Transfer on!

To begin a Transfer, choose the Transfer Entity on the left side of your screen.

And click the +New at the top.

Here, you’ll see all of the Transfer options, so let’s look at the first section.

Most importantly, we'll want to decide whether this will go from Matter to Matter or from Account to Account. That very first option looks like this. We'll start with Matter to Matter here, but Account to Account is also outlined below.

You can add a Description if necessary, but the key Fields here are Amount, in which you’ll put the Amount you’d like to transfer, and the Update Batch. The Amount should be rather self-explanatory, but the Update Batch takes a little backstory, explained below the picture.

If you’re not using Business Central or another outside Financial Group, then you can ignore this, as once you submit the Transfer, the funds will immediately move from one Account to the other and should, after a page refresh, be reflected in the appropriate Accounts and Matters, but if you are using an outside Financial Group, then you’ll understand that these Transfers will take time to process through your bank like any other bank action one might take. You may even want to group a bunch together before you submit them, and you can accomplish this by creating a Batch Transfer and then associating these Transfers to the Batch with the Field above. The rest of Transfer Batches will be explained in this Guide here.

Next, let’s look at the Matter and Account Designations. In the next section, you’ll choose Matter and Account from which you’ll be drawing Funds and the Matter and Account to which you’ll be depositing them. Note that you only have the option of three Accounts for the Designation, Trust, Trust-Retainer, and Operating – this is due to these being the only three Accounts that won’t affect existing Invoices.

NOTE - that the system will tell you, once you select your respective Matters, the current Balance of each of the three Accounts.

Finally, the last section here will tell us what changes, if any, will come from the actual Accounts. In our case, since we’re only transferring money between Matters, but not Accounts, nothing will change, but in many cases, you’ll be moving Funds between Accounts as well as between Matters and Designations in the system.

Once completed, click the Save and then +New to start another, or Save & Close once you’re finished.

For Account to Account Transfers, you'll follow all of the previous steps for creation and setting your preferences as you did for Matter to Matter Transfers, with a couple of exceptions. First, you'll need to choose the appropriate dropdown option in the Transfer Type Field, shown below.

Next, you'll need to set ONLY your From and To Accounts. In every way, Account to Account Transfers are simpler.

Set these, and then click Save & Close!

And that’s it! This is an extremely easy process that replaces the need for lengthy accounting corrections. Enjoy!