Transfer Bank Funds

You may sometimes need to transfer an amount from one bank account in Business Central to another. To do this, you must post the transaction on the General Journal page. 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 Lightbulb that opens the Tell Me feature. 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.

    Next, you must specify the balancing account. If you can't see the relevant fields, then choose the Show More Columns action to view all available fields.

  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 Lightbulb that opens the Tell Me feature. 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 with or without a minus sign.

    Tip

    An amount without a sign is a debit, and an amount with a minus sign is a credit.

    Note

    Some companies prefer to transfer between accounts on separate journal lines. Other companies prefer to post everything on one journal line by using a balancing account. Check with your local expert if you're not sure what to do.

    If your company prefers to use a balancing account, then set the Bal. Account Type field to Bank Account, and set the Bal. Account No. field to the bank account to which you want to transfer the funds. Then proceed to step 9 or 10.

    If your company prefers to use a separate journal line, then move on to the next step.

  6. On the second journal line, in the Type field, select Bank Account.

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

  8. In the Amount field, enter the amount in the currency of the bank account with or without a minus sign.

    Tip

    An amount without a sign is a debit, and an amount with a minus sign is a credit.

  9. If the exchange rates used in the journal are different than the exchange rates on the Currency Exchange Rates page, enter a new journal line for the exchange rate gain or loss.

    1. Enter G/L Account in the Account Type field.

    2. Enter the G/L account number for exchange rate gain or loss in the Account No. field.

    3. Enter the exchange rate gain or loss in the Amount field with or without a minus sign.

    Tip

    An amount without a sign is a debit, and an amount with a minus sign is a credit.

  10. Post the journal.

See Also

Reconciling Bank Accounts
Setting Up Banking
Work with General Journals
Work with Business Central

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