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Re: Incoming transfers- Manually in ByDesign

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Hello Jaime

 

You can create a Bank Payment Advice to record an incoming wire or bank transfer.Make sure the Invoice is already posted.

 

1. Go to WorkcenterLiquidity Management

2. Go to Common Tasks--New Bank Payment Advice

3. Select Advice Type as Bank Credit Advice.

4. Tick the Checkbox "Posting Advice" to create the GL Posting and this payment will appear as an  item on the Bank Statement for clearing.

5. Select the items in the bottom open items and give the amount in the Payment Amount and  Release, and the status will be In-transfer which can be confirmed in a Bank statement.


Bank Payment advices are used when items are not captured automatically by the integrated repositories. A cash manager can manually enter information received from the company’s bank in the form of bank payment advices. Based on the information received from the bank, the cash manager can enter the advice with or without a posting to accounting. If no posting is made in accounting, the advices are shown in both the cash position and in the liquidity forecast.

 

You can use bank transfers to make both automatic and manual outgoing payments. There are two types of bank transfer: bank transfers, who are used to make payments from a company account to third-party accounts; and bank-to-bank transfers, which are used to transfer funds between company bank accounts. These are used mainly for transfers relating to liquidity management.

 

In addition,you can also create an Incoming Bank Transfer in the step 3 of the bank statement

 

Thanks

Parveen Kumar


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