This article and video will walk you through setting up transfers and returns in your FarmRaise Tracks account using manual accounts. If you’re using linked accounts, check out our separate help article.
Here’s how to get started with creating, categorizing, and managing transfers and returns in FarmRaise Tracks.
Step 1: Access FarmRaise Tracks
Log into your FarmRaise account and navigate to your Dashboard.
Click on “Tracks” in the top menu to open the section where you can manage your financial records.
Step 2: Set Up Categories for Transfers and Returns
FarmRaise Tracks lets you create custom categories for transfers and returns. Here’s how:
Go to the “Categories” tab in Tracks.
To add categories:
For Transfers:
Click Add under the Expense category to add an expense for transfers.
Click Add under the Revenue category for incoming transfers.
For Returns:
Similarly, add a new Expense category for returns.
Add a new Revenue category to track revenue-related returns.
Alternatively, create a new category directly from a transaction by scrolling to the bottom of the transaction screen and selecting “Add New Category.”
💡 Tip: If you’re frequently transferring funds, like between a line of credit and checking account, setting up these categories in advance will save time.
Step 3: Manually Add Your Bank Accounts
Under Accounts, add your manual accounts as needed.
Example: If adding a line of credit account:
Name your account (e.g., “Line of Credit - Madison County Bank”).
Save your new account.
You’re now ready to categorize and manage your transactions with these accounts.
Step 4: Adding a Transfer Transaction
Here’s how to record a transfer transaction:
Add a New Expense (e.g., transfer from Checking to Line of Credit):
Name it (e.g., “Transfer from Checking to LOC”).
Enter the amount (e.g., $2,000).
Select the Expense type and choose Transfers as the category.
Save the transaction.
Add the Revenue side of the Transfer:
Create a revenue transaction with the same amount (e.g., $2,000) from your Checking account to Line of Credit.
Save this transaction.
Note: Transfers do not appear on your Schedule F, as they’re marked under Other/Personal categories.
Step 5: Adding a Return Transaction
To add a refund:
For Expenses:
If a return is a refund or adjustment, create a new Revenue transaction under your chosen Return category (e.g., refund from Target for $20.60).
Removing Original Expense (if needed):
If you do not want to add the refund transaction, you may also choose to just delete the original expense.
Note: For manual accounts, you currently need to enter returns as a separate transaction since checkbox options (available in linked accounts) are not yet available.
Need Help?
If you have questions about creating categories, managing transfers, returns, or generating reports, don’t hesitate to reach out to our Farmer Success Team. We’re here to support you every step of the way.
Happy farming! 🌱