The Inter Bank Transfer (IBT) ‘Firm’ feature has been implemented so that bank transfers between Client and Office can be made and so that a firm can run with a Surplus in the client Ledger.
A new Nominal and Bank code have also been implemented.
Posting a ‘Firm’ Inter Bank Transfer via General Postings
In order to create and post an Interim Bank Transfer (Firm) follow the steps below:
Open General Posting
Select the Transaction Type – IBT – Inter Bank Transfer
Click on NEW
Select option ‘Firm’
Insert a Narrative, Amount and Reference
Select the From Bank Code and To Bank Code
Click on SAVE
Click on POST
Inter Bank Transfer in Nominal Enquiry
This Funds Transfer (9240) Nominal will display posted Inter Bank Transfer Transactions for Office, Client, Deposit and Firm. For every inter Bank Transfer posted two entries of equal and opposite value are made on the Nominal (e.g. 200, -200). This means the Nominal itself should always have a balance of 0.00.