How to do transfer money from one bank to another.

[Number13]

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.

[tgs100]

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