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Transfer of Own Funds

Description​

Each transfer of own funds is performed using a pair of documents: one document reflects the withdrawal of funds, while the second reflects their receipt.

At the moment when the withdrawal document has already been posted, the funds are recorded in an intermediate account and are considered transferred to the responsible person.

The balance of funds held by each responsible person can be viewed in the Cash Balances report filtered by the cash type — Funds to Be Deposited into Bank Account / Cash Office.

Accounting Settings​

To record own funds that are in the process of being transferred between bank accounts or between a bank account and a cash office, the following setting is used:

Accounting → Accounting Settings → Other Settings → Funds to Be Deposited into Bank Account / Cash Office

By default, account 555 "Operations Pending Completion" is used. The first analytical dimension specifies the responsible person selected in the document.

The settings also allow specifying:

  • Effective start date
  • Company (My Company) to which the setting applies

If the My Company field is not filled in, the setting applies to all companies starting from the specified date.

Transfer of Own Funds to a Bank Account​

1. Document Cash Payment Order​

  • Transaction type: Transfer of Own Funds to Bank Account
  • Fill in the fields:
    • My Company
    • Department
    • Cash Office
    • Amount
    • Responsible Person
    • Bank Account
  • Posting the document:
    • Records incoming funds to be deposited for the responsible person
    • Accounting entry: 
      Dr [Funds to Be Deposited Account]
      Cr [Cash Office Account]

2. Document Incoming Bank Transfer​

  • Transaction type: Transfer of Own Funds to Bank Account
  • Fill in the fields:
    • My Company
    • Department
    • Bank Account
    • Amount (and commission, if required)
    • Responsible Person
  • On the Funds to Be Deposited tab, click Fill
    • The corresponding cash documents will be added automatically
    • They can also be specified manually if necessary
  • Posting the document:
    • Records outgoing funds to be deposited for the responsible person
    • Accounting entry: 
      Dr 572
      Cr [Funds to Be Deposited Account]

Transfer of Own Funds to Cash Office​

1. Document Outgoing Bank Transfer​

  • Transaction type: Transfer of Own Funds to Cash Office
  • Fill in the fields:
    • My Company
    • Department
    • Bank Account
    • Amount (and commission, if required)
    • Cash Office
    • Responsible Person
  • Posting the document:
    • Records incoming funds to be deposited for the responsible person
    • Accounting entry: 
      Dr [Funds to Be Deposited Account]
      Cr 572

2. Document Cash Receipt Order​

  • Transaction type: Transfer of Own Funds to Cash Office
  • Fill in the fields:
    • My Company
    • Department
    • Cash Office
    • Amount
    • Responsible Person
  • On the Funds to Be Deposited tab, click Fill
    • The corresponding bank documents will be added automatically
    • They can also be specified manually if necessary
  • Posting the document:
    • Records outgoing funds to be deposited for the responsible person
    • Accounting entry: 
      Dr [Cash Office Account]
      Cr [Funds to Be Deposited Account]