Business Transfer

Business transfer is a transfer that is sent under a business name for business purpose.

Useful Things!
  • clear current customer
  • update selected customer
  • check selected customer's history
  • add new employee
  • add an overseas transfer agent
Sanctions Checks!
  • no matches
  • partial matches
  • exact match
Exchange Rates!
  • exchange rate is locked for current user
  • exchange rate within the allowed range
  • exchange rate is outside the allowed range
Exchange Rate Warning!

Applies to business with enabled exchange rate range settings, when the exchange rate falls outside of the allowed range, you should see the following warning and the exchange rate is set back to the base rate.

Adding a Business Transfer

Follow the next steps to create a business transfer:

  1. Access the Transfer from the application menu
  2. Click Manage Transfers
  3. Click
  4. The new business transfer window appears
    • All bold fields are required and must be provided.

    • Customer - local customers
      • New Customer for new customers, click and enter all the available customer's information
      • Existing Customer search for the required customer, type a name, mobile or an ABN
      • Select the required customer from the search result
      • The update customer's window appears:
        • Customer's Name enter the business name
        • ABN enter a valid ABN
        • Contact Details enter customer's contact details such as phone numbers and email address
        • Address Details enter customer's address details
        • For Australian customers, type the first few letters of the suburb name and select from the search result.

      • Click
    • Employees
      • Employee select an employee, or click to add new employee
      • Type select the employee type
      • For direct employees, directors, shareholders or business owners, select Employee.

      • Employee Name enter the employee's first and last names
      • Contact Details enter employee's contact details if applicable
      • Address Details enter employee's address details
      • For Australian customers, type the first few letters of the suburb name and select from the search result.

      • Idnetification enter employee's id details
      • Upload ID click Choose file or Browse to upload employee's ID
    • Beneficiary / Receiver
      • Beneficiary select a beneficiary, choose New to add new beneficiary
      • Full Name enter the beneficiary's full name
      • Contact Details enter beneficiary's contact details such as phone numbers and email address if applicable
      • Address Details enter beneficiary's address details
      • For overseas beneficiaries, ensure you provide an accurate address, you should collect as much information as you can regarding the beneficiary's overseas address.

      • Payment Method select how would you pay the beneficiary
      • Bank Account click on the plus sign to expand the bank details, enter beneficiary's bank account details
      • To add new beneficiary's bank account, click and enter the new bank account details.

    • Transfer Agent
      • Received By select the transfer agent receiving the funds overseas
      • To add new transfer agent, click and enter the new transfer agent details.

      • Paid By select the transfer agent paying the beneficiary overseas
      • Select Same As Transfer Agent when the transfer agent is receiving the fund and also paying the beneficiary.

    • Transaction
      • Date select the transfer date
      • Inverse check this option if the rate is in an inverse mode
      • Inverse means divide 1 by the current exchange rate.

      • Ref# available only when you set the transaction reference to manual, enter the transaction reference number
      • The reference option will no be visible if you configured the transactions reference setting to Manual - Visible under the system settings.

      • Currency select the foreign currency
      • Rate enter the exchange rate
      • If you configured the live rate for the currency, once you select a current, the exchange rate will be automatically added.

        If you enabled an exchange rate range, if the rate falls outside of the allowed range, you should see a warning popup and the exchange rate is set back to base rate.

      • Fees enter the fees amount in your local currency
      • If you set a fee structure, the fees amount changes based on the transferred amount. To override the automated fees calculation, place a check mark next to the Fees and enter the fee amount.

      • Local Currency to F.C. enter the transfer amount in your local currency and the system auto calculates the transferred amount in foreign currency based on the entered exchange rate.
      • Fixed a fixed amount can be used to remove any change (fix to tens or handreds), click to apply the fixed amount
      • Reason enter or select one of the default transfer reasons
      • Payments you can process partial or full payment, it also accommodate different type of payments such as Cash and Bank Deposits
      • You must select the correct payment method, when generating an Austrac reports, payment method will be essential to determine the type of reports should this transaction be included.

  5. Click