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Day 12: Transferring Funds
Terms in this set (6)
What is a clearing account?
It's the GL account used for transferring funds between cash accounts and refunding tenants. It's a temporary spot to hold funds.
The clearing account should always be at a _________________________ when a transaction(s) that use this account are completed.
A clearing account can also be known as a ______________ account.
What two types of fund transfers are there in AppFolio?
1. Moving funds on behalf of owners
2. Moving funds between cash accounts
What does BCRD stand for?
Bill, Check, Receipt, Deposit
What does BOPRD stand for?
Bill, Other Payment, Receipt, Deposit
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