This is done by means of a journal in the GL. In a new batch start a journal in the normal way. Key fields are:
In the first line of the journal, enter the account code for the account with funds that you want to invest:
The credit entry for your journal line is coded to the department’s balance sheet but with a transaction code of SCCA (Monies on Deposit control account).
Please note that Departments can now process Deposit Movements to the penny |
Account codes for placing money on deposit
Department | Cost Centre | Source of Funds | Transaction code | ||
Debit | Your Dept Code | Your Dept Cost centre | Your Dept source of funds | SCBA | Funds on deposit |
Credit | Your Dept Code | 0000 | 0000 | SCCA | Deposit Control Account |
Save and post your journal in the normal way.
If there is a long list of transfers, enter all the debit lines first. Then complete one credit line coded to the Deposit Control Account for the total of the journal |
Latest version 15 April 2024