Transfer Bank Funds

You may sometimes need to transfer an amount from one bank account to another. To do this, you must post the a transaction in the general journal. The task varies depending on whether the bank accounts use the same currency or different currencies.

To post a transfer between bank accounts with the same currency code

  1. Choose the Search for Page or Report icon, enter General Journal, and then choose the related link.
  2. On a journal line, fill in the Posting Date and Document No. fields.
  3. In the Account Type field, select Bank Account.
  4. In the Account No. field, select the bank from which you want to transfer the funds.
  5. In the Amount field, enter the amount to be transferred.
  6. In the Bal. Account Type field, select Bank Account.
  7. In the Bal. Account No. field, select the bank account to which you want to transfer the funds.
  8. Post the journal.

To post a transfer between bank accounts with different currency codes

To transfer funds between bank accounts that use different currencies, you must post two general journal lines.

  1. Choose the Search for Page or Report icon, enter General Journal, and then choose the related link.
  2. Create two journal lines, and fill in the Posting Date and Document No. fields.
  3. On the first journal line, in the Type field, select Bank Account.
  4. In the Account No. field, select the bank account from which you want to transfer the funds.
  5. In the Amount field, enter the amount in the currency of the bank account. Enter credit amounts with a minus sign. Enter debit amounts without a minus sign.
  6. In the Bal. Account Type field, select Bank Account.
  7. In the Bal. Account No. field, select the bank account to which you want to transfer the funds.
  8. On the second journal line, in the Type field, select Bank Account.
  9. In the Account No. field, select the bank account to which you want to transfer the funds.
  10. In the Amount field, enter the amount in the currency of the bank account. Enter credit amounts with a minus sign. Enter debit amounts without a minus sign.
  11. In the Bal. Account Type field, select Bank Account.

  12. In the Bal. Account No. field, select the bank account from which you want to transfer the funds.

    NOTE

    If the exchange rates used in the journal are different than the exchange rates in the Currency Exchange Rates window, enter a third line for the exchange rate gain or loss. Enter G/L Account in the Account Type field. Enter the G/L account number for exchange rate gain or loss in the Account No. field. Enter the exchange rate gain or loss in the Amount field with or without a minus sign for credits and debits respectively.

  13. Post the journal.

See Also

Managing Bank Accounts
Setting Up Banking
Working with General Journals
Working with Dynamics NAV


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