Internal transfers¶
Internal money transfers can be handled in Odoo. At least two bank accounts are needed to make internal transfers.
Configuration¶
An internal transfer account is automatically created on your database based on your company’s localization and depending on your country’s legislation. To modify the default Internal transfer account, go to and scroll down to the Default Accounts section.
Register an internal transfer from one bank to another¶
If you want to transfer money from one bank to another, access the Accounting Dashboard, click the drop-down selection button (⋮) on the bank from which you want to make the transfer, then click Payments. Select or create a payment, tick the Internal Transfer checkbox, and select a Destination Journal before you Confirm the internal transfer.
The money is now booked in the transfer account and another payment is automatically created in the destination journal.
Example
Bank journal (Bank A)
Account
Debit
Credit
Outstanding Payments account
$1,000
Internal transfer account
$1,000
Bank journal (Bank B)
Account
Debit
Credit
Outstanding Receipts account
$1,000
Internal transfer account
$1,000
There is one outstanding payment and one outstanding receipt pending in your two bank account journals because the bank statement confirming the sending and receiving of the money has not been booked yet.
Once this is done, you can book and reconcile your bank statement lines as usual.
See also