Wire Transfers

Wire transfers can be handled in Bank Reconciliation or by entering a Manual Check.

1.  Enter a Voucher in AP on the Bank Account from which the wire transfer is going.  Distribute the Voucher accordingly and save it as a Manual Check with a bogus Check Number.  Make sure you use a check number well outside your current Check Number range (Manual Check numbers do not increment the next Check Number in the system).  Some firms start their wire related Check Number with the same 2 digits 99XXXXX so as to be able to identify them later easily.

 2.  Enter a transaction through Bank Reconciliation

Method 1 gives you a check trail on your Check Register.   Method 2 does not.

Method 2 would be done in Bank Reconciliation  –  and you would need to have a Bank Reconciliation Code set up for wire transfers or adjustments.