Transfers Between Bank Accounts

Zumzum Financials Knowledge Base

    Overview

    The Bank Transfer feature allows you to transfer payments from one bank account to another bank account.

    Each bank account must be from the same Company to perform the bank transfer.  All currency calculations and conversions will be stored on the Bank Transfer record and the associated ledger records. The tax rate is always “No VAT” so shall not appear on your VAT/Tax reports.

    Create A Bank Transfer.

    When you create a bank transfer in Zumzum Financials using the web interface, the transaction is automatically posted to the ledger.  Please ensure you are satisfied with the information you enter before selecting Save.

    Follow these steps to create and post a bank transfer in the user interface

    1. Go to the Bank tab
    2. Click the icon for  Transfer Between Bank Accounts
    3. Select the Bank Account From, this is the bank the funds are coming out of.
    4. Enter the Bank Account To, this is the bank the funds will be moved into.
    5. The posting Date will be auto set to today’s date, this can be changed by selecting from the drop-down calendar.
    6. Optionally, add a Reference
    7. Optionally, add a Description a
    8. Enter the To Amount you wish to transfer
    9. Click Save
      • The entry will always be posted with the “No VAT” tax rate.

    To view your bank transfer, please go to the Bank Transfer tab.

    Post A Draft Bank Transfer

    The Zumzum Financials Bank Transfer API provides developers with the ability to insert a bank transfer transaction in a “Draft” status.  You can either user the Bank Transfer API to post this bank transfer transaction to the Zumzum Ledger or use the web user interface to manually post the record.

    This feature is only available in the Salesforce Lightning interface.

    Note:  If you have cloned the default Zumzum Bank Transfer Record Page, you will need to manually upgrade your custom page to use Dynamic Actions.  Follow this help article to learn more about implementing Dynamic Actions in Salesforce Lightning.

    The Zumzum Bank Transfer Record page contains a Dynamic Action for Post.  This action has visibility filters configured to only how you the action if  the status is Approved or Draft.  Once you have upgraded your own custom bank transfer record page to use Dynamic Actions, please implement the same action visibility filters on the Post quick action.  Go to the Zumzum lightning record page to view the filters of the dynamic quick action as described in the Salesforce Dynamic Actions in Salesforce Lightning.  You can then apply these visibility filter configurations on your own custom lightning record pages.

    To post a draft bank transfer in the web interface please follow these steps

    1. Go to the Bank Transfer tab.
    2. Select the “All” List View or an alternative list view
    3. Scroll down to the Draft Bank Transfer record you wish to post
    4. Click on the Name of the Bank Transfer record
    5. Click the Post quick action on the bank transfer record.
      • If you do not see the Post quick action then the transaction is either posted or cancelled
    6. You will see a Success message that your bank transfer has been posted.