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Small and medium business | Business Central, N...
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Transfer money between accounts

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Posted on by 4,837 Super User 2025 Season 1
When I transfer money between accounts, I have exchange rate and a fix transaction fee, 
what would be the best practice to handle it automatically?
  • Verified answer
    Jun Wang Profile Picture
    Jun Wang 7,576 Super User 2025 Season 1 on at
    Transfer money between accounts
    These are steps from MS documentation, hope it helps
     

    To post a transfer between bank accounts with different currency codes

    To transfer funds between bank accounts that use different currencies, you must post two general journal lines.

    1. Choose the Lightbulb that opens the Tell Me feature. icon, enter General Journals, and then choose the related link.

    2. Create two journal lines, and fill in the Posting Date and Document No. fields.

    3. On the first journal line, in the Type field, select Bank Account.

    4. In the Account No. field, select the bank account from which you want to transfer the funds.

    5. In the Amount field, enter the amount in the currency of the bank account with or without a minus sign.

       Tip

      An amount without a sign is a debit, and an amount with a minus sign is a credit.

       Note

      Some companies prefer to transfer between accounts on separate journal lines. Other companies prefer to post everything on one journal line by using a balancing account. Check with your local expert if you're not sure what to do.

      If your company prefers to use a balancing account, then set the Bal. Account Type field to Bank Account, and set the Bal. Account No. field to the bank account to which you want to transfer the funds. Then proceed to step 9 or 10.

      If your company prefers to use a separate journal line, then move on to the next step.

    6. On the second journal line, in the Type field, select Bank Account.

    7. In the Account No. field, select the bank account to which you want to transfer the funds.

    8. In the Amount field, enter the amount in the currency of the bank account with or without a minus sign.

       Tip

      An amount without a sign is a debit, and an amount with a minus sign is a credit.

    9. If the exchange rates used in the journal are different than the exchange rates on the Currency Exchange Rates page, enter a new journal line for the exchange rate gain or loss.

      1. Enter G/L Account in the Account Type field.

      2. Enter the G/L account number for exchange rate gain or loss in the Account No. field.

      3. Enter the exchange rate gain or loss in the Amount field with or without a minus sign.

       Tip

      An amount without a sign is a debit, and an amount with a minus sign is a credit.

    10. Post the journal.

  • Suggested answer
    Khushbu Rajvi. Profile Picture
    Khushbu Rajvi. 8,757 Super User 2025 Season 1 on at
  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 77,855 Super User 2025 Season 1 on at
    Transfer money between accounts
    Is there any problem with adjusting directly in General Journals? You can add a line to fix transaction fee.
     
    Hope this helps as well.
    Thanks.
    ZHU
  • Suggested answer
    Yi Yong Profile Picture
    Yi Yong 1,857 Super User 2025 Season 1 on at
    Transfer money between accounts
    Hello VaHiX,
     
     
    The general rule of thumb is
    1. Amount LCY must be net to zero.
    2. Use multiple journal line instead of 'Bal. Account No.' method because we will need the multiple currencies.
     
     
  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 26,185 Super User 2025 Season 1 on at
    Transfer money between accounts

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