Account-to-Account Transfers
Q&A related to Account-to-Account transfers.
Transfers are processed Monday to Friday, excluding bank holidays. The cutoff time for transfer processing is 5:45 PM.
Debit Date (Settlement Date) | Credit Date (Receiving Date) | If payment is received after the cutoff… |
|---|---|---|
Same day – your debit account will be debited when Citizens receives the payment. | Same day – your credit account will be credited when Citizens receives the payment. | The transfer date for transfers received after the cutoff time (5:45 PM ET) will be calculated by the system as the payment date + one day. If the transfer date falls on a non-banking day, the transfer will be rejected. |
This error occurs when you have ‘Location’ set as a mandatory field. ERPConnect automatically creates a journal entry based on the standard NetSuite transfer journal form. At this time, it is not currently possible for you to fill in additional fields, such as Location, on the Account Transfers page, and ERPConnect cannot enter a Location value for you. To resolve this, follow one of the sets of steps below.
Change your script settings so that Location is not mandatory:
- Navigate to Customization → Scripting → Forms → Transaction Forms
- Locate your preferred journal form under ‘Type: Journal’
- Click on the screen fields and remove the mandatory setting for ‘Location’
Leave ‘Location’ as a required field and complete a manual workaround each time you submit a transfer.
- Make the transfer on ERPConnect Account Transfer page
- Go to the Transfer History page and find the transfer
- Edit the journal and add the location
Selecting the same Balancing Accounts as "Due to" and "Due from" during intercompany account-to-account transfers is not supported. This limitation is not specific to ERPConnect but is by design within your ERP to ensure clear segregation of intercompany receivables and payables between sending and receiving subsidiaries. Using the same balancing accounts for two subsidiaries causes the system to fail when distinguishing liabilities and receivables for each entity, making it impossible to reconcile intercompany transactions properly.