Fund Transfers (Intacct)

important intacct does not allow the transferring of funds between two accounts from two separate entities the bank accounts must be set up at the top level, with two different location ids (or fund ids), or within the same entity (not at the top level) this is an intacct limitation requirements the book transfers feature within your bank plugin supports transferring funds between two accounts within the same entity to ensure a successful transfer, please verify that the following prerequisites are met both the source and destination accounts must belong to the same entity the associated general ledger (gl) accounts must not have required dimensions configured ensure that either the cd or cdc journals are enabled transferring funds when using account transfers, ensure your intacct bank accounts are correctly mapped to the appropriate bank accounts to initiate transfers between bank accounts within the same subsidiary (intracompany) or between accounts in different subsidiaries (inter company), follow these steps step 1 go to the funds transfer page go from your bank → funds transfer step 2 initiate a transfer the overview page consists of two sections the from (source) and to (destination) accounts when selecting these accounts, users can view both the book and bank balances to assist with informed decision making enter the following information under from account , select a source bank account using the dropdown under to account , select a receiving bank account from the dropdown menu transfer amount memo (optional) select transfer step 3 confirm transfer a confirmation window will appear, displaying the transfer details select confirm to initiate the transfer transfer history to view transfer history, go to your bank → transfer funds → history this tab lists all previous book transfers with their statuses and allows sorting on all columns faqs why do i get the ‘\[bl01001973] invalid journal cdj selected – pick a valid active journal ’ error message? this error occurs because the required journal has not been configured to resolve this, navigate to general ledger → configuration → journals and create a new journal ensure the journal symbol is set to cdj what happens if the transfer is voided before it is processed at the bank? in this case, fispan changes the value of the original journal entries to 0 and marks it as 'voided {amount} transfer – {original message} ' you can always find the status of the transfer in the history tab when doing a transfer between different location ids, how do i know which accounts are debited/credited? intacct natively supports the balancing of such transactions check the inter entity map, which summarizes the balancing of any transactions between different location ids where can i change my inter entity map? navigate to company > set up > inter account mapping what happens if i do not include a memo in my transfer? in this case, the plugin will automatically add a memo following from bank account (sourcebankname) to bank account (destbankname) this is the same as native intacct can i transfer money between two different currencies? no, both the ‘to’ and ‘from’ accounts need to have the same currency the ‘to’ account will only show the accounts that have been matched and that have the same currency