Remove the Deposit from the Sending Bank

              

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Perform a Bank Transfer

Expand/Collapse item  Overview

Removing money from the sending bank is the second step in performing a bank transfer.

To remove the deposit from the sending bank

  1. Select Accounts Receivable Main menu > Cash Receipts Entry. If you have Batch Processing enabled, the Cash Receipts Entry Batch window appears. Enter the Batch Number field and click Accept.

  2. In the Cash Receipts Deposit window, enter the deposit number, description, bank code, and deposit date. For more information, see Cash Receipts Deposit - Fields.

  3. In the Cash Deposit Amount field, enter the amount as a negative number and click Accept.

  4. In Cash Receipts Entry, enter a default customer in which to post the cash receipt. For more information, see Cash Receipts Entry - Fields.

  5. Select Cash in the Deposit Type field. Enter the check number.

  6. In the Amount Received field, enter the amount of the transfer as a negative value.

  7. Click the Lines tab.

  8. In the GL Account field, enter the clearing account established in the general ledger. The amount posted should default as the negative value.

  9. Click Accept.

  10. Print and update the Cash Receipts Journal and Daily Transaction Register.

    Note Depending on your security setup, the Daily Transaction Register may be automatically printed and updated.

    The transfer will debit the clearing account and credit the bank account.

The deposit is removed from the sending bank.