In Axanta, Transfer Entry refers to transactions involving cash and bank account. In other words, any entry which affects both cash and bank accounts is called a Transfer Entry.
To make the definition further simpler, any transactions involving a transfer of cash between one cash account to another or one cash account to another bank account or one bank account to another is called as a contra entry.
The following is the list of possibilities for Transfer Entries:
Cash account to Bank account
Bank account to Cash account
Bank account to Bank account
Cash account to Cash account
Create a new Transfer Entries.
Go to Finance → Journals → Transfer Entries(Bank/Cash).
Below screenshot with details of Transfer Entry form.
Note: the check number won't appear in the statement. It's just an informative field. If you want the check number to appear in statement then use Memo field instead.
Note: Axanta uses an interim account 'Liquidity Transfer' as highlighted in the below screenshot. This account will carry zero balance as it will be knocked off automatically by system.
Video demonstration to show how to create a new Transfer Entry in Axanta ERP.
