How to transfer funds between your internal banks?

Question Posted / nagesh

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How to transfer funds between your internal banks?..

Answer / shankar ganesh c t

use Bank Account Transfer functionality in Cash Management
module to transfer funds.

(Intra-Company balancing rules are mandatory) in PL setup.

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How to transfer funds between your internal banks?..

Answer / moses

In R12 Cash Management module, This can be done.
There is an option called " Bank Account Transfers", through which you can do fund transfer between two internal banks.
To Do:
1. Cash Management > Bank Account Transfers
2. Click on 'Create' button.
3. Give details of transfer date & transfer amount
4. Enter the Source Bank account Number
5. Enter the Destination Bank Account Number
6. Apply.

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How to transfer funds between your internal banks?..

Answer / mihir k. vaidya

Inter Bank transfers can be handeled in two ways.

1. By using the Cash Management functionality.

OR

2. You need to create a supplier and a customer in the name
of your company.These should be used only for fund
transfers (with fund transfer sites ) You can raise a
standard invoice in AP on the Supplier ( Your Co. as
supplier ) then make the payment selecting the bank account
from which u are transferring funds.

Now in AR you can create a Debit Memo on your company's
name (Customer) and book a receipt selecting the bank in
which the funds are to be transferred and apply the DM to
the receipt.

Finally at the month end you can pass a manual JV in gl and
clear off the balance remaining in these accounts.