Account Transfer

This setting together with the 'Account Balance Transfer' Maintenance function allows you to transfer balances from one Account to another, or to transfer the balances of a range of Accounts to a single Account. An example use for this feature is in Portugal, where it can be necessary to amalgamate the balances of several VAT Accounts in a single Account at the end of a VAT reporting period. It is also used when closing a financial year. Please refer to the End of Year Procedures in Portugal page for more details about closing a financial year.

You should use this setting to define the sets of rules that you will then use to control the operation of the Maintenance function. The function will use one of these sets of rules to create a new record in the Simulation or Transaction register containing the necessary postings. Therefore, once you have defined a particular set of rules, you can use it many times.

Please click for details about: