Inter account transfer (bank transfer)
Find this screen
Open: Cash Book > Other Transactions > Inter Account Transfer
How to
Enter a bank transfer using the same currency
Open: Cash Book > Other Transactions > Inter Account Transfer
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Select the Payment account bank account.
Note: You can't select accounts that are used for Salary and Supplier Payments.
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Select the Receipt account bank account.
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Enter the Transfer details.
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Enter general details, such as Description, Reference, Second Reference and Transfer date.
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Enter the Payment value of the transfer.
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- Select Save.
Enter a bank transfer using different currencies
Open: Cash Book > Other Transactions > Inter Account Transfer
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Select the Payment account bank account.
Note: You can't select accounts that are used for Salary and Supplier Payments.
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Select the Receipt account bank account.
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Enter the Transfer details.
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Enter general details, such as Description, Reference, Second Reference and Transfer date.
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Enter either the Payment value or the Receipt value in the appropriate currency.
The remaining value is automatically calculated for you, based on the exchange rate.
- If you want to change the Exchange rate, select Change Rate.
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Enter the Commission details to record a currency exchange commission charge.
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Enter the Commission value. The currency will depend on which account you choose to pay the commission.
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Select which bank to Pay commission from, either the Payment Account or Receipt Account.
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The Commission account displays the nominal account that will be used for the commission charges. By default this shows the Bank Charges nominal account set for the payment or receipt bank account you have chosen. You can change this nominal account if required.
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Enter the Nominal postings details.
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An exchange rate is displayed for each account that doesn't use the base currency, so you will see either one or two exchange rates.
Check the exchange rates for Payment to base rate and Receipt to base rate.
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To change the exchange rate for a bank account that uses a foreign currency, select Change Rate.
When you change an exchange rate, the Exchange difference is calculated.
Note: You can only change the exchange rate here if the exchange rate is set to be Amendable.To check or change this, use Currencies and Exchange Rates
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If there is an Exchange difference (value is not zero), you can choose the Nominal account used to post the exchange rate differences. By default this shows the Exchange differences nominal account set for the payment or receipt bank account you have chosen. You can change this nominal account if required.
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- Select Save.
Fix it
You'll see warning if you have set Transaction date validation in System Settings
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If the date entered is in the Unacceptable range, the transaction cannot be saved.
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If the date is in the Acceptable range, the transaction can still be saved.
This could be because:
- The exchange rate is not set to be Amendable. To check or change this, use Currencies and Exchange Rates
Useful info
Outcomes of recording a bank transfer
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The receiving bank account is debited and the paying bank account is credited.
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Commission nominal account postings are made, if you included a currency exchange commission.
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Currency exchange postings are made, if applicable.