WP Ever Accounting allows you to transfer funds between different accounts, even if the accounts are in different currencies. The plugin automatically handles currency conversion, ensuring that the transfer amount is accurately adjusted according to the exchange rates. Additionally, WP Ever Accounting keeps detailed records of all transfers, providing a clear and comprehensive log for each account involved in the transaction.
How to add Transfers
To initiate a transfer, navigate to Banking > Transfers and click the Add New button. This will direct you to a new page, similar to the process of adding a new account. Please note that a minimum of two accounts is required to complete a transfer—one account serves as the sender and the other as the receiver.
To successfully add a transfer, select an account in the From Account field as the sender and another account in the To Account field as the receiver. If the accounts are not set up yet, you can click the plus (+) button to create new accounts. During account selection, the exchange rate fields will automatically populate with the respective conversion rates based on the default currency. Enter the transfer amount, specify the transferable amount, and set the date. Choose a payment method from the available options. You can also add a reference for reliable information and use the Description field to provide additional details about the transfer.
Transfers Listing Fields
From the Banking > Transfers tab, you can view a list of transferred amounts between accounts. The list includes the date of each transfer, the respective accounts involved, the reference, and the transferred amount. Each item can also be edited or deleted individually.
