Bank Transfer Logs
Bank Transfer Logs records fund transfers between your own business bank accounts — for example, moving money from your current account to a savings account, or from the main account to a branch account. Each transfer creates a debit in the source bank account and a credit in the destination account.
Only for internal transfers
Bank Transfer Logs is for transfers between accounts owned by your business only. Payments to vendors go in Purchase → Payments Made. Receipts from customers go in Sales → Payments Received.
Record a bank transfer
- 1
Go to Banking → Bank Transfer Logs → New Transfer.
- 2
Select the Source Bank Account (the account funds are moving from).
- 3
Select the Destination Bank Account (the account funds are moving to).
- 4
Enter the Transfer Amount in INR.
- 5
Enter the Transfer Date — this is usually the date the funds leave the source account.
- 6
Add the UTR Number or Reference (from your bank transaction record) in the Remarks field.
- 7
Save — the debit and credit entries post automatically to both bank ledgers.
Common scenarios
Current to savings
Move excess funds from an operations current account to a savings account at month-end.
Head office to branch
Fund a branch current account from the head office account for branch operations.
FD creation
Record a transfer to a fixed deposit account when the FD is created.
Account settlement
Close a redundant bank account by transferring its balance to the primary account.