Go to Cash flow ➔ Payments ➔ Prepayments & transfers, and then select Transfer.
Transfers refer to Electronic Funds Transfer (EFT). EFT enables corporations and individuals to provide secure direct payment electronically without issuing paper checks or moving cash monies.
You can create a transfer by filling in the relevant information and clicking Save. A list of options will be displayed if you click at From – Cash instrument, Deposit number, and other fields. From the list, make your selection and click Select.
Select Prepayment or Transfer to determine which entry you want to make. The following describes transfer.
Type or select the cash instrument that you want to make the funds transfer from. You can create cash instruments at Cash flow ➔ Cash instruments ➔ Maintain. For more information, see Creating and maintaining cash instruments.
Type the transfer amount, and type or select the currency you want to make the transfer with. At Date, type or select the date of the transfer. By default, this will be the current date.
Type the payment reference of this transfer for easy reference. This increases traceability of the transfer made.
Select the required option to make the transfer. You can choose to transfer by Cash, Bank statement, or Credit card. At Method, select the method of transfer. You can choose from Cash, Cheque, Letter of credit, or EFT if Cash is selected at Type. You can choose from Regular, Cheque, Collection, Letter of credit, or EFT if Bank statement is selected at Type. Method is not available if Credit card is selected at Type. At No., type or select the number of the bank cash instrument. No. is available if Cash is selected at Type, and Cash, Cheque, or Letter of credit is selected at Method.
Type or select the deposit number for the transfer. At Date, type the deposit date. These are available if Cash is selected at Type, and Cash, Cheque, or Letter of credit is selected at Method.
This internal reference is automatically generated once you save the transfer.
Type or select the cash instrument that you want to transfer funds to.
This is automatically filled in with the transfer amount in the cash instrument’s default currency. This is only available if the cash instrument’s default currency is different from the company’s default currency.
This is automatically filled in with the cash instrument G/L account once you type or select a cash instrument at From – Cash instrument.
The amount is automatically filled in based on the company’s default currency once you type the transfer amount at Amount / Date. At XRate, you can type or select the exchange rate between the default currency and the currency at Amount / Date.
Click this to type a note relating to the transfer. Type a note, click Timestamp (optional), Save and then Close to exit.
Click this to add an attachment to the transfer. For example, you can attach the bank statement or other documents to the transfer.
This is automatically filled in with the cash instrument G/L account once you type or select a cash instrument at To – Cash instrument.
The amount is automatically filled in based on the company’s default currency once you type or select a cash instrument at To – Cash instrument. The exchange rate at XRate is automatically filled in with the exchange rate that you have set at System/General/Countries/Currencies. These are only available if the cash instrument’s default currency is different from the company’s default currency.
Click this to go directly to the creditor card of the selected creditor.
Click this to create a new transfer.
Click this to save a transfer. Once a prepayment has been saved, this will be disabled.
Click this to exit.