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Floats - Moving funds from the business float

A double entry can be added to move a balance from the Business float to elsewhere in the system. Each property has an individual Business float balance, and the company also has a business float balance. Below are some common examples of moving funds from the business float.
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Example 1: Transfer funds from a property's business float to the landlord balance

Use this method when funds held in a property's business float should instead be available within the landlord balance.

  1. Go to Financials > Double entry

  2. In the Money out section, please populate the fields as follows:

    1. Category = The property

    2. Subcategory = Business float out

    3. Adjustment value = The balance to transfer

  3. In the Money in section, please populate the fields as follows:

    1. Category = The property

    2. Subcategory = Landlord other income

    3. Adjustment value = The balance to transfer

  4. Click Add Adjustment

On Bank > View bank lines, two Balancing payment (BP) lines will be added to show the movement of funds. One will debit the property (subcategory = Business float out), and the other will credit the property (subcategory = Landlord other income).

Example 2: Transfer funds from a property's business float to the property float

Use this method when funds have been incorrectly allocated to a property's business float and should instead be held in the property's float account.

  1. Go to Financials > Double entry

  2. In the Money out section, please populate the fields as follows:

    1. Category = The property

    2. Subcategory = Business float out

    3. Adjustment value = The balance to transfer

  3. In the Money in section, please populate the fields as follows:

    1. Category = The property

    2. Subcategory = Float in

    3. Adjustment value = The balance to transfer

  4. Click Add Adjustment

Example 3: Transfer funds from a property's business float to the company business float

Use this method when funds have been allocated to a property's business float but should be held against the company's business float.

  1. Go to Financials > Double entry

  2. In the Money out section, please populate the fields as follows:

    1. Category = The property

    2. Subcategory = Business float out

    3. Adjustment value = The balance to transfer

  3. In the Money in section, please populate the fields as follows:

    1. Category = Business

    2. Subcategory = Business float in (loan)

    3. Adjustment value = The balance to transfer

  4. Click Add Adjustment

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