Transfer money from one account to another one

Question

Hi all
I am using EBS 11i, and i have the following modules: General Ledger, Account Payables and Cash Management.
I have different bank accounts in the system and now we want to transfer money from one bank account to another one.
How should i do this in the system. What type of document should i register to reflect this transfer. I know that it can be done by registering a journal with a clearing account and then reconcile this journal to the cash management module.
My question is: Is possible to register in the payables module this kind of transactions. Can i solve this by registering payments in this module. On payment the supplier is mandatory, but i do not have any supplier in this case. I have a payment from a specific bank account and then a refund to the other bank account but not involving any specific supplier.
Please advice if you have any suggestions.
Thank you all and best regards

Answer 1

Hi Ernest,
This is what you can do.
1) Whenever there are bank transfers, there is Cash-In in one account and Cash-Out from another account.
2) When you enter the bank statements for these bank accounts, associate the transaction type codes of Misc Receipt and Misc Payment to these statements. Setup the bank transaction codes so that when you perform AutoReconciliation, the system creates Misc Receipts in AR for these statement lines. (You associate a Receivables activity with the transaction code).
3) When you will run AutoRec, the Misc Receipt is created for the Bank account where funds are received and the Misc Receipt (with negative amount) which is equivalent to a Misc Payment is created for the Bank Account from where funds are transferred. The offset to the bank account is the clearing account in both entries which becomes zero at the end.
4) With this workaround, there is no need to setup Dummy Supplier or run any payment process in AP.
Hope this helps.
Thanks,
Anil