Transfer Supplier Balance – A summary of the activity

This activity allows you to transfer balances from one supplier to another supplier. A transfer of balances is necessitated when major takeovers or mergers of organizations happen or whenever a supplier closes down his business. Both Credit balances and Debit balances can be transferred from one supplier control account to another within a finance book or between two finance books or between the different payable accounts of the same supplier.. You can also transfer the supplier balances of a payable account, prepayment account and deposit account to another supplier within a finance book or between two finance books.

The transfer can be a full balance. In case of a partial balance transfer the corresponding documents have to be referred. You can transfer balances between accounts operating in the same currency or in different currencies. The supplier from whom the balance is transferred from is called as a “Transferor Supplier” and the supplier to whom the balance is transferred to is called as a “Transferee Supplier”. If the transferor currency and the transferee currency are different, then the system calculates the exchange variance amount. The suppliers must be in the “Active” status.

When a credit balance is transferred, a transfer debit note is generated for the transferor supplier and transfer credit note is generated for the transferee supplier. In case of a debit balance transfer a transfer credit note is created for the transferor supplier and a transfer debit note is created for the transferee supplier. In case of a prepayment transfer a transfer credit note is generated for the transferor supplier and a Transfer Debit Note is generated for the transferee supplier.

The system updates the status of the transfer credit note to “Draft” if the payment schedule or the payment information is not been entered for the transfer credit note. The transfer note is updates to “Fresh” or “Authorized” status only in the “Payment Information” page. The system updates the login ID of the user who created the transfer credit note to the created by and the system date to the date on which the transfer note is raised. The system generates the unique number for both transfer credit and the transfer debit document.

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