Hi everybody,
I am really wondering how to transfer money from one bank account to another bank account in ERP for the organization.
Thanks,
Satya.
How to do transfer money from one bank to another.
If you are using R12, you can transfer through Bank Account Transfer functionality in Cash Management Module. There are lot of threads on this subject. One of the thread is <b>topic.asp?TOPIC_ID=7191</b>
If you are using R11i, you need to use AP and AR to complete the bank account transfer.
1. Create Banks as supplier
2. Create a payable invoice for Bank2 with debit account as AP-AR clearing account (This is just a name, you can have any account description).
3. Make Payment from Bank1
4. Create a Receivable activity with AP-AR Clearing Account
5. Create a Receipt Method (if not available)
6. Create a misc receipt with the above defined receivable activity.
7. Reconcile (if applicable) for both AP and AR transactions.
Note: While creating AP invoice, you can debit bank2 cash account without creating the misc receipt, however I don't recommend this process.
Cheers,
Saravanan
If you are using R11i, you need to use AP and AR to complete the bank account transfer.
1. Create Banks as supplier
2. Create a payable invoice for Bank2 with debit account as AP-AR clearing account (This is just a name, you can have any account description).
3. Make Payment from Bank1
4. Create a Receivable activity with AP-AR Clearing Account
5. Create a Receipt Method (if not available)
6. Create a misc receipt with the above defined receivable activity.
7. Reconcile (if applicable) for both AP and AR transactions.
Note: While creating AP invoice, you can debit bank2 cash account without creating the misc receipt, however I don't recommend this process.
Cheers,
Saravanan
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