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About Shirley McAllister, CPP, PHR
Expertise
I can answer payroll questions, payroll tax questions, 401K questions. No stock option questions please and I have some knowledge of other pensions but am most familiar with the 401K pension.
I can answer U.S.and Canada payroll questions proficiently and have a good general knowledge of UK and South Africa and some knowledge of Australia and New Zealand Payroll procedures.
Please do not ask me homework questions I do not have time to answer them.
Experience
25 years with an international company in the Human Resources, Payroll and Payroll Tax areas.
Organizations
SHRM, APA, I.O.M.A.
Publications
I.O.M.A. and BNA
Education/Credentials
P.H.R., C.P.P., Canadian Payroll Administrator, Successfully passed APA class on UK Payroll Administration.
Boise State University Human Resource Certification
Awards and Honors
APA Hotline Citation of Merit for last 8 years.
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You are here: Experts > People/Relationships > Retirement Planning > Accounting, Payroll & Pension Issues > accounting
Expert: Shirley McAllister, CPP, PHR
Date: 4/28/2008
Subject: accounting
Question
I'm trying to figure out how to show the transfer of funds in my receits and disbursement reports. Do I list the transfer as a receit for the account that the transfer is made to. If so does this not make it look like its new money when in fact its already been accounted for when it was initially received. However, if I don't list it as being transferred, I don't show the movement of the money. This then makes my disbursements inaccurate. Any suggestions would be appreciated.
Answer
It is a credit to the account it is transferring from and a debit to the account it is tranferring into.
It will be new money received in the account it is going into, however, it will be less money in the account it was originally placed in which reduces the amount received in that account. You are simply moving it from one account to another. The originally account no longer has the amount received in it as you moved it to another account.
Shirley
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