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  • Writer's pictureTek Siong, Hock

Internal Transfer in the Odoo CE Accounting

Updated: Jul 9, 2022

Transferring fund between the bank accounts are part and parcel of Accounting operation.

In Odoo, you may do the manual journal entry of DR to "Receiving Bank" and CR to "Sender Bank".

Alternatively, you may want to use the "Internal Transfer" function in the Payment.

Note: In the Odoo standard internal transfer, the payment transfer from date and transfer to (received in) is the same date. However, in some occasions, receiving account may received it in the next day. So, a customization is required to make sure that it support Transfer from Account date and Receiving Account date in the journal entries.

a) Example, if you want to transfer RM1000 from the MBB Bank Account to CIMB Bank Account. Create a payment type "Internal Transfer".

To do it in the Odoo CE, create a account 'Transfer Account' in Chart of Account, of type "Current Asset" and "Allow Reconciliation".

Enable the "Inter-Bank Transfer" Account in the Company setting, which is not visible by default.

Add the following to the form.

<field name="transfer_account_id"/>

The journal items will be created, as follow.

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