When does the accounting for bank transfers take place?

Accounting for bank transfers occurs when the Create Accounting process is submitted from Cash Management to Oracle Fusion Subledger Accounting.

The bank account transfer creates two external transactions.

1. An outflow (payables) external transaction is created for the From Bank Account.

2. An inflow (receivables) external transaction is created for the To Bank Account.

Bank account transfers can occur between an intercompany and intracompany.

External transactions should be reconciled in order to be accounted.

External transactions created for bank account transfers have journal entries created by the Create Accounting process. Any gain or loss calculation due to different currencies is handled by Oracle Fusion Subledger Accounting.