Hurdlr Pro includes a feature to manage your Bank Transfers. Tracking your Bank Transfers ensures that you're tracking your cash flow properly and that your Chart of Accounts reflects the correct account balances.
Transfers that Hurdlr detects between your linked accounts will automatically reflect a green "Bank Transfer" label. If needed, you can manually change any income or expense transaction to a Bank Transfer. All Bank Transfers will be reflected in your General Ledger and in the Transactions Dashboard.
Bank Transfers do not impact your total income or expenses, so they will not be reflected in those overviews or reports.
Automatically Detected Bank Transfers
Bank Transfers will generally be automatically tagged and matched with the corresponding Bank Transfer if you have the account that matches the other side of the Bank Transfer linked in Hurdlr, e.g. you linked both your credit card and the bank account that you use to pay off your credit card.
If the corresponding Bank Transfer isn't detected, you'll be prompted to confirm whether or not the detected transaction is indeed a Bank Transfer.
If you select the “Bank Transfer” button, you'll be prompted to set the corresponding To or From account.
If you select the “Not Bank Transfer” button, you'll be prompted to convert the transaction to a normal income or expense transaction.
Changing an Income or Expense Transaction to a Bank Transfer
If needed, you can manually convert an income or expense transaction to a Bank Transfer. To do so:
Click on the transaction to expand it
Click ‘Convert to…’
Choose ‘Bank Transfer’
Select the corresponding ‘From and To Accounts’
Click ‘Save Details’
This transaction will now be labeled as a ‘Bank Transfer’
After saving your changes, the income or expense transaction will be converted to a Bank Transfer. Converting the transaction to a Bank Transfer will automatically create a General Ledger entry and add the green Bank Transfer label to the transaction. Additionally, if there is a corresponding Bank Transfer with matching values (i.e. to and from the same accounts), it will automatically be tagged as a Bank Transfer.
Changing a Bank Transfer to a Normal Transaction
Hurdlr allows you to convert any Bank Transfers (transfers that are pulled in automatically from your bank account, or transactions that you accidentally marked as Bank Transfers) to a normal transaction. To change a Bank Transfer:
Navigate to the Transaction Dashboard
Click on the specific Bank Transfer to expand its details
Select ‘Convert to…’
Select ‘Income’ or ‘Expense’
Click ‘Save Details’
Manually Linking Two Bank Transfers
Typically, if both accounts involved in the Bank Transfer are linked, Hurdlr will be able to match one side of the Bank Transfer with the corresponding Bank Transfer. If Hurdlr isn't able to match your Bank Transfers automatically, you're able to connect them manually.
To do so, navigate to the Bank Transfer, click the Match With Deposit From Another Bank Account field, then select the corresponding Bank Transfer from the drop-down.
Viewing Your Bank Transfers
If you want to view your Bank Transfers, you can filter the Transactions Dashboard to show only Bank Transfers. To do so, click the Type filter drop down menu, then select Bank Transfers.