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User Guide: Book Transfers

This guide provides instructions for completing a Book Transfer, which involves transferring funds between two integrated bank accounts in Smartwebs.

What are book transfers?

Transferring money between two integrated bank accounts within the Smartwebs system.

 

What banks can complete Book Transfers

With Release 25.5, only PPB clients will have the ability to complete book transfers in the UI. The ability for other banks will be added at a later time.

 

What is required to complete book transfers?

  • Two integrated bank accounts that fall within the same bank branch.
  • There is a minimum of $0.01 that can be transferred.
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How To Complete a One Time Transfer

  1. Navigate to Banking > Bank Accounts
    1. Note: this section is managed by Rights. Contact your Global Admin if you cannot access 
  2. In From Bank Account, click on the three dots > Transfers
  3. Enter the information on transfer drawer
    • Date - cannot be changed.
    • Memo
    • Transfer Amount (the available amount will show the bank balance and as of date)
    • If there are any pending transaction, it'll show the real time/adjusted balance.
    • You are unable to choose amounts that exceeds the available bank balance.
    • FROM
    • (Credit) Bank account - this is the account that the funds will be withdrawn from
    • Cost center - will always default to Default
    • (Debit) GL - transfer out - this is the offset account from where the funds will be withdrawn from
    • Cost center
    • Amount
    • Note (Autofilled with memo from above)
    • TO
    • (Debit) Bank account - this is the account that the funds will be deposited into (you will only see the other available bank accounts that you can transfer to)
    • Cost center - will always default to Default
    • (Credit) GL - transfer in - this is the offset account from where the funds will be transferred into
    • Cost center
    • Amount
    • Note (Autofilled with memo from above)

4. Click Process Transfer

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5. A confirmation screen will appear asking if everything looks correct. If you are ready to proceed, click Yes.

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6. The transfer has been sent to the bank in real time. If you go to the bank details tab, you will be able to see the pending transaction in the bank ledger.

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Activity History

Any activity that has occurred in the past will show in this grid:

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The transaction ID is provided by the bank.

 

Scheduled Transfers

These are transfers that have been scheduled for future date.

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Note: Once the schedule is created, there is no way to edit the schedule. If a change is needed, delete the schedule and create a new one.

 

Journal Entries for Bank Transfers

A new type of journal entry type has been added to the dropdown called Transfers.

Clicking on the journal entry, you can see the full details of the journal entry in a read only screen of the transfer.

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Reconciling Book Transfers

All GL activity will show in the bank reconciliation area for the user to reconcile the accounts.

 

Access to Bank Transfers

If you can access the bank account screen, you are able to book transfers. There are no additional rights that need to be enabled to allow users to book transfers.

 

Where can I see who completed a book transfer?

You can see this information on the History screen by clicking the transfer or the journal entry.

 

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