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Fund Transfer Fund Transfer

Fund transfer is the process of transferring funds or money from one branch to another branch within a company or an organization. This internal money transfer between branches is known as the Fund Transfer process.

Performing a Fund Transfer​

To initiate a fund transfer:

Go to Cashbook Fund Transfer New Fund Transfer Out

Required Fields:​

  • Branch: Selecting the branch from where the money will be taken out
  • Dest. Branch: Destination branch where the fund is being transferred (Transferred In)
  • Date: Date of entry
  • Amount: Amount of transferring money
  • Credit Account: Account to be credited

After filling in the required fields, click on Save to generate the transfer process. A window will appear as shown below.

Approval Process​

  • Initially, the fund transfer out remains in a pending state, indicated by the "!" icon.
  • Select the transaction and click on Accept to proceed with the fund transfer out.
  • This approval layer ensures that the process is verified before execution. It can also be assigned to an approver for validation.
  • If any modifications are needed before approval, the specific FOUT-xxxx transaction can be edited using the edit icon.

Completing the Transfer to the Destination Branch​

Even after accepting the fund transfer out, the process is not complete until it is received by the destination branch.

Go to Cashbook Fund Transfer Fund Transfer List

  • The transfer will still be in a pending state, meaning the funds have not yet been received at the destination branch.
  • To complete the transfer, select the FIN-xxx transaction and click on Accept to finalize the fund transfer.

This process ensures a structured and verifiable internal fund transfer between company branches.