Transferring Funds to Non-Bank Accounts
In NetSuite, funds transfers refer specifically to transfers between bank accounts.
Transfers between bank accounts and non-bank accounts are usually done with checks or deposits. For example, if you pay off a loan with a check, write a check from your checking account and select the loan payable account for the expense.
When your bank account and loan are with the same bank, you can also use the bank's online system to transfer between operating accounts and loan accounts.
To transfer funds to non-bank accounts, make a general journal entry. For information about journal entries, see Journal Entries, Journal Entries Overview, and Journal Entry Preferences.
To make a general journal entry:
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Go to Transactions > Financial > Make Journal Entries.
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On the Journal page, enter the appropriate information as directed by instructions in Making Journal Entries.