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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