Balance Swap

Written by Nick Miles

Last published at: August 4th, 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 transfer to 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.

Add a Filter

In the left-side menu of the balance swap screen, filters can be added through the Add Filter option to help narrow down account options. Each filter refines the list on the Balance Swaps Needed page. The available filters are:

  • Fund: View only suggested swaps for accounts belonging to specific fund(s).
  • To Account: View only suggested swaps with specific account(s) as the receiving account.
  • From Account: View only suggested swaps with specific account(s) as the transferring account.