Users can, using the Cashbook transfer wizard record transfers that may have taken place between two bank accounts the company owns.

To do this, you will first need to setup a transfer account.

This can be done by going to Setup… Company Parameters

On the Company tab, on the bottom left of the screen is the Cash Books box.  Check to see if there is an account selected in this box, if not, you will need to create an account by clicking on the Account field and pressing F6 on your keyboard.

This will open the Edit General Ledger Accounts screen.

Enter an account number and account description.

On the Details tab, select Balance Sheet as the account type, and B55 – Accounts Receivable as the Balance Sheet Financial Category.

Save the account and close the account creation screen.

Select the newly created account by entering the account number and pressing the Enter key.

Click the OK button to save your changes.

Processing the Transfer

Once you have set up the account, you can then process Transfers between the cashbooks setup in your chart of accounts.

Go to the cashbook you are transferring from and click the Transfer button at the bottom of the cashbook screen.

On the Cash book Transfer screen, select the period for the transfer, the date, reference and description.

In the Amount field in the Transfer From frame, enter the amount you are transferring.  If the cash book you are transferring into is a foreign currency cash book, and the bank you are transferring from is a home currency or another currency cash book, enter the exchange rate in the Exchange Rate field as the system defaults to the current exchange rate.

You can also change the amount in the receiving cash book which will change the amount according to the exchange rate in the sending cash book – then click the OK button and confirm the transaction.

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