BANK TRANSFERS

Main Menu > Accounting > Bank > Transfers

Bank Transfers is transferring transactions between accounts, such as transfers from savings accounts, fixed deposits to current accounts transfer from current account to savings account, fixed deposit account according to the bank account in the organization's chart of account.

Can create a transfer transaction directly at the Bank Account menu, select the account to be transferred, select Manage Account > Transfer Money, the system will automatically link to the Transfer page.

The screen will appear as follows, then enter the required information.

• Date: Transfer date (the system will default current date, can be change)
• Number: Document number (the system will auto running number)
• Reference: Can specify reference document number
• From Account: Select the source account you wish to transfer
• To Account: Select the destination account you wish to transfer
• Bank Charge: Select Bank charge account in case of transfer fee
• Paid Amount: Amount to transfer
• Received Amount: The received amount to the destination account  ** Fee already deducted
• Transfer Fee: Specify the transfer fee (if any)

Once clicked Post, document status will change to Posted, can be View Journal Entry by clicking on Options button > View Journal Entry.

The system will record in the general journal and Narration is specified as Transfer.