Bank Transfer in Oracle Fusion cash management

Bank Transfer in Oracle Fusion Cash Management

Hi Friends, we are going to discuss about the Bank Transfer in Oracle Fusion cash management. We will share the detail steps to configure the bank transfer process in oracle fusion cash management. This post will really help to implement and learn the bank transfer process in oracle fusion cash management. The Bank Account Transfer creates two external transactions. An outflow (payables) external transaction is created for the From Bank Account, and an inflow (receivables) external transaction is created for the To Bank Account. These transactions generate the accounting entries when reconciled with bank statement lines. Bank account transfer can be between an intercompany or intracompany, and the intercompany (FUN) Manage Intercompany Balancing Rules and Manage Secondary and Clearing Company Balancing Options UI’s will be used to setup the default offset accounts for these transactions. You will need to configure rules under both these setups if you anticipate transfers between bank accounts belonging to the same legal entity and also between bank accounts belonging to different legal entities. To distinguish Cash Management balancing rules from others, setup intercompany balancing rules with: Source as Cash Management and Journal Category as Funds Transfer. Please find below the detail about Bank Transfer in Oracle Fusion cash management.

Setup to Implement the Bank Transfer in Oracle Fusion cash management

Step 1:- Navigator> Setup and Maintenance > Manage Intercompany Balancing Rules task 

Create Legal Entity Rule for:

From Legal Entity: US1 Legal Entity 

To Legal Entity: France Legal Entity

Source: Cash Management

Category: Funds Transfer

Enter Receivables and Payables Accounts.

Bank Transfer in Oracle Fusion cash management

Step 2:-

Create Legal Entity Rule for: 

From Legal Entity: France Legal Entity 

To Legal Entity: US1 Legal Entity 

Source: Cash Management 

Category: Funds Transfer

-Enter Receivables and Payables Accounts. 

Bank Transfer in Oracle Fusion cash management

Step 3:- Create Bank Account Transfer (between bank accounts belonging to different legal entities) 

Task: Create Bank Account Transfer

Cash Management > Cash Balances > Click Transfer Funds or click the Panel drawer and click the Create Bank Account Transfer task -Submit Bank Account Transfer From BofA-2869 (US1 Legal Entity) to BNP-Interne en Euro 999 (France Legal Entity)

Bank Transfer in Oracle Fusion cash management

Bank Transfer in Oracle Fusion cash management

Step 4:-Review Bank Account Transfer Status Task: Manage Bank Account Transfer 

Cash Management > Cash Balances > click the Panel drawer 

Click the Manage Bank Account Transfer task

Bank Transfer in Oracle Fusion cash management

Step 5: Review External Transactions created Task: Manage Transactions 

Cash Management > Bank Statement and Reconciliation > Manage Transactions task 

Search by Origin: Bank Account Transfer

Bank Transfer in Oracle Fusion cash management

Review External Transaction created for BofA-2869 (Outflow External Transaction)

Bank Transfer in Oracle Fusion cash management

Review External Transaction created for BNP- Interne en Euro 999 (Inflow External Transaction) 

(Optional) Step 6: Submit Cash Position Data Extraction Scheduled Processes

-Schedule New Process: Cash Position Data Extraction

Bank Transfer in Oracle Fusion cash management

Bank Transfer in Oracle Fusion cash management

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Bank Transfer in Oracle Fusion cash management