Book Transfers (Intacct)

the book (funds) transfers feature in your bank plugin will allow you to transfer funds between two accounts in the same entity important intacct does not allow the transfer of funds between 2 accounts from 2 separate entities the bank accounts have to be set up at the top level, with 2 different location ids (or fund ids) or within the same entity (not at the top level) this is an intacct limitation prerequisites please ensure the following prerequisites are met to make a successful funds transfer both accounts involved in the transfer are within the same entity no required dimensions configured on gl accounts cd or cdc journals are enabled initiate book transfer when using funds transfers, ensure your intacct bank accounts are matched with the appropriate bank accounts to initiate transfers between bank accounts under the same subsidiary (intracompany) or between bank accounts under different subsidiaries (inter company), follow these steps go to the funds transfer page go from your bank → funds transfer initiate a transfer the overview page is composed of two sections the ‘from’ and the ‘to’ accounts when selecting the source/destination accounts, users can view the book and bank balances for each bank account to help support 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 confirm transfer a pop up window will appear with transfer details select confirm to initiate the transfer transfer history to view transfer history, go to {{productname}} → 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? this is because the correct journal has not been set up to resolve this, navigate to general ledger > configuration > journal and add a journal the symbol of that new journal should be 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