This is done by means of a journal in the General Ledger (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:
Please note that Departments can now process Deposit Movements to the penny.
The credit entry for your journal line is coded to the balance sheet but with a transaction code of SCCA (Monies on Deposit Control Account).
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 |
Now save and post your journal in the normal way.
Quick Tip - If there is to be a long list of transfers then enter all the debit lines first and then just complete one credit line coded to the Deposit Control Account for the total of the journal.