Transfers Overview

Transfers in Castaway Cloud work like journal entries, allowing you to move values from one element to another. This opens up a wide range of advanced modelling techniques, including absorption costing (great for manufacturers and wineries), to natural increase accounting (for livestock farmers) and automatic profit distributions (for non-company entities). 

Transfer Options

The transfer options include:

1. SALES: Revenue to Inventory
2. SALES: Growth to Inventory
3. COSTS: Expenses to Inventory
4. COSTS: Recovery to Inventory
5. COSTS: Expenses to Fixed Asset
6. COSTS: Recovery to Fixed Asset
7. WAGES: Expenses to Inventory
8. WAGES: Expenses to Fixed Assets
9. INVENTORY: Transfer to Inventory
10. INVENTORY: Transfer to Fixed Assets
11. BANK: Transfer to Bank
12. FIXED ASSET: Depreciation to Costs
13. FIXED ASSET: Depreciation to Inventory
14. FIXED ASSET: Finance Transfer to Loan
15. DIVIDENDS: Transfer to Capital
16. CAPITAL: Transfer to Capital

For more information on each transfer, including examples of how each transfer can be used, refer to this in-depth article Transfers in Action – Castaway Help Centre

Setting up a Transfer

To set up a transfer:

1. Open the element you want to transfer from (the Sender element)
2. find the Transfers block (top row in the data entry panel)
3. click the blue + button
   
   
    
4. from the popup, choose the Type of transfer, the Target element (the Receiver) and the calculation method for your transfer, then Save
   
   
    
5. Enter the transfer values into the data row that appears
   
   
    
6. after you Save and Close the element, the transfer will be visible in the Receiver element

Deleting a Transfer

To delete a transfer:

1. open the Sender element
2. click the trash can icon to the right of the transfer description