Balance Swap

Written by Nick Miles

Last published at: March 26th, 2021

Balance Swaps are system suggested movements of money based on how a fund is defined and where it’s money is currently invested or held. 

For example:

  • If a fund has $0 in checking, but $50,000 in a primary investment account, the fund can still write a $1000 check out of the checking account. Manage Cash will recognize that money going out needs to come from checking and the system will suggest a Balance Swap to re-balance.
  1. Select Funds from the Home page.
  2. Click List.
  3. Select a cash balancing fund.
  4. Click Balance Swap in the left-side menu.
  5. Select the Fund(s) with a balance that needs to be swapped (moved from one account to another).
  6. Enter the Swap Date and click Swap Checked Balances.
    • Note: The Swap Date will be the date of the journal entry. 
  7. Scroll up to the assets window, and click transferto transfer the assets to a different account. 
    • The amounts calculated in the Assets window show how much to wire or move between accounts to complete re-balancing.
      • Field Descriptions:
        • Last Reconcile - shows the balance of the account at the time of the last reconcile.
        • Rev Share (Revenue Share) - indicates whether or not an account is a revenue share account.

Note: You will need to contact your financial institutions to physically move money from one account to another.