How can I record an intra-bank transfer in Metro Accounting System?
To record an intra-bank transfer (a transfer between two bank accounts within the same bank) in Metro Accounting System, you should follow these steps using the Accounting module:
1) Go to the 'Accounting' module.
2) Go to 'Journal Entries'.
3) Click on the Create Button.
4) Intra-bank Transfer
In Metro Accounting System, an intra-bank transfer refers to transferring funds between two bank accounts that belong to the same company (i.e., internal fund transfer). This is useful when managing multiple bank accounts under the same entity and needing to move money between them, such as from a checking to account.
Select the journal, enter the date, and provide a reference if needed. Add line items with accounts, debit and credit amounts, and descriptions.
Enter the Journal Entry Details:
- Date: Set the date.
- Journal: Select Miscellaneous Journal.
- Reference: Enter a suitable reference like "Bank - 0566567890 To Bank - 0355092341".
- In the Journal Items tab, enter the following:
- Debited Account (200013 Bank - 0566567890) → Debit with the amount.
- Credited Account (200012 Bank - 0355092341) → Credit with the same amount.
Validate the Journal Entry
- Click Post to finalize the journal entry.
To get more details to how can I record an intra-bank transfer in Metro Accounting System, please do contact us at support@metrogroup.solutions