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:
- Period: For deposits the period will be the current period.
- Category: Select Department deposit movements from the list of values
In the first line of the journal, enter the account code for the account with funds that you want to invest:
- The transaction code for these entries will always be SCBA (funds on deposit)
- Enter the amount that you want to place on deposit in the debit column.
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