A Bank Transfer is a electronic payment that is made directly from your bank account to another bank account.
Eg a payment made from your master bank account to your Visa Credit Card Account.- (in other words a bank-to-bank transfer/payment).
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| If a transfer of money is presented on your bank statement, use the Bank Transfer to action this, do not do a Bank Payment. |
Setting Up a Bank Transfer from One Bank Account to Another Bank Account
- From the Navigation panel click Financials then Cashbook and then clickNavigate to Financials> 'Bank Transfers'
- Click on 'New'
- If you are working off a bank statement then use the date off of the bank statement, however, if you are physcally physically making the transfer now enter todays today's date.
- Select the 'From Account Site' (from a bank account)
- Select the 'To Account Site' (to a bank account)
- Enter the full value of the bank transfer.
Enter a description as to why you are making the bank transfer
Expand title Show me - Click on 'Finalise' to complete the transfer.
The system will generate a Bank Deposit and a Bank Payment. The system will also give you both transaction Numbers within the view.
A bank transfer will be created and linked to both the payment and deposit.
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