Use the Bank Transfers window to:
- Transfer funds between banks.
- Record an entry for fees charged by a bank involved in a transfer.
- Correct a deposit that you posted to the wrong bank.
The program uses the rate type corresponding to the Company country.
In a multicurrency system, if a bank involved in a transfer is multicurrency, the program displays the bank's statement currency as the default, but you can change the currency. The program uses the rate type specified for the currency in the bank record to determine the exchange rate to use to convert the amount to your functional currency. However, you can change the rate type, rate date, or the exchange rate, if you need to do so.