Ideas for the Mambu Banking Engine

Multiple inter-branch GL accounts

What

Allow defining multiple GL accounts to be used as “interbranch” transfer accounts when transactions happen involving 2 different branches.

For example, if the organisation has 3 branches it should be possible to define 3 different interbranch GL accounts as follows:

  • Branch 1 <> Branch 2 transfers
  • Branch 1 <> Branch 3 transfers
  • Branch 2 <> Branch 3 transfers

Why

In a business setup where a customer can walk into any branch and perform a transaction, branches have to regularly (usually weekly) reconcile and settle the respective balances between each other, so it is useful to know what those are per branch, not for all branches.

  • Rodica Levitchi
  • Dec 1 2016
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  • Shatanik Roy Chowdhury commented
    31 Oct, 2019 11:31am

    Please explain , how a debit in an inter branch GL A/C of branch A will reflect on the inter branch GL A/C of branch B. The aim is to have a  DR of a savings account of branch A and a credit in a savings account of branch B of the same bank. Please assist .....

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