Customer Balance Transfer – An overview

Introduction

There are circumstances, where an amount or balance needs to be transferred from one Customer to another Customer or between two different accounts of the same Customer. Such transfers can take place when a Customer goes out of business / winds up transactions or when the business of the Customer is taken over by a new person. On winding up / take over the Customer may assign the payable to another person / Customer.

Feature Highlights

• Provision to transfer balances from one customer to another customer (mapped to same or different finance books)

• Provision to transfer balances between two different accounts of the same customer.

• Provision to transfer balances between two control accounts of different currency

• Provision to view the customer balance transfer as transfer debit notes and transfer credit notes or prepayment invoices.

• Provision to specify the default payment OU for Transfer credit notes.

• Provision to specify the Finance book from which the balance is transferred and to specify finance book to which the balance is transferred.

• In case of partial balance transfer, provision to specify the documents, which constitutes the balance transferred (for the transferor).

List of Activities