Creating Bank Account Transfers - 16d
Purpose: Use this document as a reference for creating a bank account transfer in ctcLink.
Audience: Settlement Manager, GL Accountant
Navigation: Main Menu> Cash Management > Fees and Transfers > Bank Account Transfer
Creating Bank Account Transfers
- Enter existing search criteria or click the Add a New Value tab on the Bank Account Transfer page to add a new value.
- If it didn’t already default, enter, or select the business unit in the Business Unit field.
- Use the Transfer Type drop-down button to select ‘External Transfer’ or ‘Internal Transfer’ type.
- Click the Add button.
- Enter a short description in the Description field. If you use a template, this description will be prefilled for you.
- Create external bank account transfers from a template or on an ad hoc basis:
- Select a Transfer Template ID to automatically populate the external bank account transfer with information. If you create an external bank account transfer from a template, you can also click the ChartFields link to edit the bank transfer ChartFields.
- Leave the Transfer Template ID field blank to create an ad hoc bank account transfer. Complete the remaining fields on the page. If you create an ad hoc external bank account transfer, you cannot modify the bank transfer ChartFields.
- Click the Instructions button to review the settlement instructions. The settlement instructions define how the payment or transfer is made—the system uses the deposit instructions from the bank account that is receiving funds (the Transfer To Account bank).
- Click the Save button to save the Transfer.
Types of Transfers
Transfer from Account
- Describe the bank account that is serving as the fund source.
- For an external bank, select the bank and the bank account.
- For an internal bank, select the bank, and then specify the account customer and associated bank account (The customer represents the business unit that is serving as the fund source). Enter the monetary amount to transfer.
Transfer to Account
- Indicate the bank account or internal account that is receiving the funds. Select a bank that is an appropriate match for the transfer from account only.
- If the transfer from account bank is an external bank, then the transfer to account bank must also be external. For an external bank, select the bank and bank account.For an internal bank, select the bank and then specify the customer and the associated bank account (The customer represents the business unit that is receiving funds).