bank account transfer accounting entries
Hello,
When bank account transfer accounting entries generated?assume we have 2 banks with the intra company rule.when we fund the transfer with option settlement in oracle payments NO. will it create accounting entries at this level or will generate at the time of reconcile entries in bank statement?
bank account A
dr transfer clearing account 100
cr actual bank account 100
bank account b
dr actual bank account 100
cr transfer clearing account 100
the question is above entries are correct? if yes, so what entries will generate when reconcile in bank statement?
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