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Accountingv14v15QuickstartSF-Experts
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Pei Hua Tsai (pht)

Objective: 

What are the journal entries when processing bank internal transfer in Odoo?


Summary:

In v14, there are two steps in the internal transfer process.

If we are sending money from the Cash journal to the bank journal, there are 2 steps to follow:

1. In the cash journal, specify the internal transfer and 'send' action.

(There is no destination journal.)

AND

2. In the bank journal, specify the internal transfer and'receive' action.

(There is no destination journal.)



In v15 and future versions:

There is only one step in the internal transfer process.

If we are sending money from the cash journal to the bank journal, there is 1 step to follow:

1. If you are entering from the cash journal, specify the internal transfer, 'send' action, and the destination journal is Bank.

OR

2. If you are entering from the bank journal, specify the internal transfer, 'receive' action and the destination journal is Cash.

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Pei Hua Tsai (pht)
Author Best Answer

v15




Bank A > Three dots > Internal transfer



Select Bank B in the Destination Journal
Make sure the 'Internal Transfer' is checked.


v17

In v17, you won't find the 'internal transfer' action but choose 'payments' instead.

Then follow the same process as in v15.

v17 Workflow

1. Transfer $1000 from Bank A to Bank B.

2. Go to Bank A journal > three dots > payments > checkbox on the internal transfer, send $1000, destination journal: Bank B.


This action created two journal entries.

One journal entry is in Bank A (PBNK1/2024/00006)

Dr. Liquidity transfer $1000, Cr. Outstanding payments $1000.


Another journal entry is in Bank B (PBNKB/2024/00001)

Cr. Liquidity transfer $1000, Dr. Outstanding receipts $1000.


3. Reconcile in Bank A for the internal transfer entry (PBNK1/2024/00006) with the bank statement $-1000.


4. Reconcile in Bank B for the internal transfer entry (PBNKB/2024/00001) with the bank statement $1000.


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