Bank-to-Bank Transfers

What is it and what is it for?

Unlike an Account Payment (which posts against expense ledger accounts) or a customer collection, a Bank-to-Bank Transfer always moves money between two bank or cash accounts that you manage yourself. It's the screen you use when, for example, you move cash from petty cash to the bank, move funds between two checking accounts, or buy foreign currency using funds from your local-currency account.

You enter the Origin Amount (what leaves the Origin Account, in its own currency) and the Destination Amount (what arrives at the Destination Account, in that account's currency). If both accounts share the same currency, the two amounts must be identical — it's a straightforward cash movement. If the accounts are in different currencies, AdmCloud calculates the effective exchange rate for that transfer by dividing the Destination Amount by the Origin Amount, instead of using the day's official rate — so the accounting entry reflects the actual rate your bank gave you on that specific operation.

When you save it, if your company enabled posting unauthorized payments to accounting, the system generates the accounting entry right away (debit to the Destination Account, credit to the Origin Account); otherwise, the entry is generated once the transfer is authorized.

How to use it step by step

1. Open the list and click New. You need the "add" level of the Bank Transfers permission; if you don't see the button, ask your administrator for access.
2. Choose the Origin Account (where the money leaves from). Only active accounts are listed when creating a new transfer; this account's currency determines the currency of the Origin Amount.
3. Choose the Destination Account (where the money arrives). It must be different from the Origin Account; only active accounts are listed when creating.
4. Enter the Origin Amount and the Destination Amount. If both accounts share the same currency, enter the same value in both; if they're in different currencies, enter the actual amount that leaves and the actual amount that arrives at each account.
5. Review the Subsidiary and the Requester, if your plan has Subsidiaries enabled or you need to identify who's requesting the movement.
6. Attach supporting documents (transfer confirmation, bank screenshot) on the Files tab, if applicable.
7. Save the document. It stays in "Pending" status until someone with authorization rights approves it.

Key fields

Validations when saving

• Open accounting period for the transfer's date.
• Origin Account and Destination Account required, and they can't be the same account.
• Neither account can be inactive when you create or duplicate a transfer. When you edit a saved one it keeps its source and destination accounts even if they were made inactive afterwards, but you can't switch either one to a different inactive account.
• Both accounts must belong to the document's Subsidiary, when the account has a subsidiary assigned.
• Origin Amount and Destination Amount must be greater than zero.
• If both accounts share the same currency, the Origin Amount and Destination Amount must be exactly equal.
• You can't transfer directly between two different foreign currencies: at least one of the two accounts must be in your company's functional (base) currency, or both must share the same currency.
• Exchange rate greater than zero when the accounting entry is generated.
• The document number can't repeat.
• Required custom fields, if your company defined any as mandatory for this screen.

Managing the document

From the details of an already-saved Bank-to-Bank Transfer you can, depending on your permissions:

• Authorize, reject, mark as pending or as draft the transfer, and assign an authorizer (who gets an email notice and an in-app notification).
• Void the transfer, if it doesn't have linked records that prevent it (for example, a bank reconciliation).
• Delete the transfer, if it doesn't have linked records.
• Duplicate the transfer to create a new one from its data.
• Print the transfer with the default format, showing both accounts, both amounts and their currencies.
• View the generated accounting entry, if your company uses the Accounting module.

Additional features depending on your setup

• Create from a bank transaction pending reconciliation: opening the transfer from an imported bank movement (Bank Feed) that hasn't been reconciled yet, AdmCloud prefills the date, amount and Origin Account for you.
• Import a receipt with optical character recognition (OCR): when creating the transfer from an image or PDF, the system can automatically prefill the date, if your plan includes this feature.
• Custom fields: you can add your own fields to the form if your plan includes this feature.
• Custom forms: if your plan allows it, you can rearrange the form's fields to your liking from the "Customize form" option.
• Column customization on the list: save your own configuration of visible columns on the list screen.

Availability and permissions

• Access is controlled by the "Bank Transfers" permission of the Banking module, with separate levels for view, add, edit, delete, void and authorize.
• Available on every AdmCloud plan, as part of the Banking module.
• With Subsidiaries enabled, each transfer belongs to a specific subsidiary and the field becomes required.
• Optical character recognition (OCR) when importing the receipt depends on your plan including that feature.

Tips and common mistakes