Specific transfers where there is sharing of specific revenues are done using 1 of 2 methods depending on whether or not the sharing department is in the same Department.
Same Department
Entry is input using a Journal Entry using a source code of O60. Account number will stay the same.
For example:
Department A deposits check received, booking it to 40791, miscellaneous receipts. Research determines that one-half of the revenue belongs to Project B, so needs to transfer half to Project B.
Project A | 40791 | 500.00 |
Project B | 40791 | -500.00 |
Different Department
Entry is input using the IDT System. Using transaction type IDJ, Project B would “charge” Project A $500 and use account 40791 for both the Biller and Payer sides of the transaction.
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