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Floats - Moving funds from the business float

Updated over 6 months ago

A double-entry can be added to move a balance from the Business float to elsewhere on 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

Funds in a particular property's business float balance must be moved to the landlord's balance.

  1. Navigate to Financials > Double entry

  2. Within the Money out section, please populate the fields as below:

    1. Category = The property

    2. Subcategory = Business float out

    3. Adjustment value = The balance to transfer

  3. Within the Money in section, please populate the fields as below:

    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 have been added to show this 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

Funds are assigned to a particular property's business float, but they should be in the property's float balance.

  1. Navigate to Financials > Double entry

  2. Within the Money out section, please populate the fields as below:

    1. Category = The property

    2. Subcategory = Business float out

    3. Adjustment value = The balance to transfer

  3. Within the Money in section, please populate the fields as below:

    1. Category = The property

    2. Subcategory = Float in

    3. Adjustment value = The balance to transfer

  4. Click Add Adjustment

Example 3

Funds have been assigned to a particular property's business float balance, but they should be assigned against the company's business float balance.

  1. Navigate to Financials > Double entry

  2. Within the Money out section, please populate the fields as below:

    1. Category = The property

    2. Subcategory = Business float out

    3. Adjustment value = The balance to transfer

  3. Within the Money in section, please populate the fields as below:

    1. Category = Business

    2. Subcategory = Business float in (loan)

    3. Adjustment value = The balance to transfer

  4. Click Add Adjustment

Related Articles
Suspense account - Moving funds in and out
Floats - Creating landlord floats
Overpayments - Deposit paid to the landlord in error
Overpayments - Refunding rent that has been paid to a landlord
Landlord ledger - Moving money between properties
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