AP-Inter bank tranfer

[segu_tulasi55]

we have 1 lakh in ICICI. i want to tranfer to HDFC. How can i tranfer.which accounts are used to charge?

[jnandana]

If you are in R12, then define two bank accounts in Cash Management, and using bank account transfer feature you can transfer fund between the banks, and the moment you complete reconciliation and run crate accounting in CM, entrie will be generated and transfered ot GL.

If you are in 11i, just pass GL entry, by debiting HDFC bank account and credit ICICI bank account

[segu_tulasi55]

thax a lot.

[segu_tulasi55]

if we want to make payment through paybles .means by defining HDFC as a supplier .how can we make and which ac/ r effected?

[jnandana]

If you want to make a payment thrgh AP, then define HDFC as a supplier or you can use any onetime supplier,
And if you are using inventory, define one service Item called 'Cash Transfer to HDFC' and assign expense account as 'HDFC Bank Account', otherwise in AP, create an invoice for the above defined HDFC supplier/onetime supplier and change the charge account as 'HDFC Bank Account'

The entry for Invoice is

HDFC Bank Account (as a charge) Dr.
AP Liability Cr

Then issue payment using ICICI payable document

The entry for payment is

AP Liability Dr.
ICICI Bank Account Cr.

Hope this is clear.

[segu_tulasi55]

Thanx a lot . now i cleared.

[oracleapps1983]

In 11i when we define journal entry for One Bank Dr. and Another Bank Cr. Will the Bank Balances updates.

[AmanKhan]

Bank balances will be updated in term of account balances through JE in GL as u will define 2 COA values for the 2 banks.

[oracleapps1983]

So 1110 is Cash Account think.

If we consider the above example HDFC and ICICI balances will be updated.

If i want to check the balances of HDFC and ICICI will they get Updated.
I Think it will not updated. There some think left with cash management to be done.

Be clear in This topic