This setting can be used in combination with the 'Account Balance Transfer' Maintenance function 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 period or financial year.

This setting is used to define the sets of rules which will inform the Maintenance function how the task is to be carried out. This means that each set of rules can be defined once and then used many times. Once a set of rules has been defined, the Maintenance function will use it to create a new record in the Simulation or Transaction register containing the necessary postings.

Please click for details about:

The Account Transfer setting;
The 'Account Balance Transfer' Maintenance function;
An example.

Previous Next Top Entire Chapter in Printable Form