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Interbranch Transactions

Loan Performer allows you to carry out interbranch transactions. To do this you must have a multi branch licence from Crystal Clear Software Ltd that is if your organisation has several branches. For consolidated reports on the organization's performance you will need a corporate license (see topic Corporate Database).

How to configure Interbranch Transactions

For you to configure interbranch transactions, go to System\Configuration\Accounting\Interbranch Transaction. A screen will appear looking as follows:

• Multi branch databases are consolidated: When you tick this checkbox all other options that follow become inactive. This means that you will be dealing with one consolidated database with the same GL accounts for the different branches.
• Allow inter branch transactions: If you tick this option you will be able to carry out transactions between different branches at the same time. Note that if this option is selected all the subsequent options became active and you can select different options that you want to apply.
• Transaction Host Branch: From the drop down list select the host branch. This is the main branch of the organization.
• Remote Branch: From the drop down lists select the remote branch.
• Currency: Select the currency from the drop down. This is the currency that will be used to record the inter branch transactions between the host and remote branches.
• Inter branch clearing account - Payments: Select, from the drop down list, the account that will be used to book the inter branch payments.

• Inter branch clearing account - Receipts: Select, from the drop down list, the account that will be used to book the inter branch receipts.

Example: Take an organization with two 2 branches; AA (Host) and BB (Remote). If a client belonging to the remote branch BB makes a 50,000 savings deposit by cash at the host branch AA, then branch AA will record this receipt through the Inter branch clearing account - (Receipts) as follows:
 
                         Inter branch clearing account (receipts)         50,000  (Dr)
                              Clients Savings Account                                50,000 (Cr)
At the time of clearing the following GL transaction will be recorded:

                        Cash Account                                                      50,000 (Dr)
                               Inter branch clearing account (receipts)      50,000  (Cr)

Click on the Save All command button to save the Inter branch Transactions settings and on the Close command button to exit the menu.

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