Difference between revisions of "Cash Suspense Accounts"
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(Created page with "=='''Overview of IL173'''== Used as an offsetting account when making a financial adjustment to penalty amounts. Must eventually be cleared via a manual journal entry [[Categ...") |
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| − | + | Cash Suspense Accounts are used as an offsetting account when making a financial adjustment to penalty amounts or reversing certain transactions (such as loan payment reversals). Anything in these accounts must eventually be cleared via a manual [[General Journal Entry|journal entry]]. | |
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| + | '''NOTE: You will also want to add the Cash Suspense Account to the checking account(s) in [[Checking Account Setup]] in order to process loan payment reversals.''' | ||
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| + | * From the DDI Connect main menu, double-click Financial Services | ||
| + | * Double-click Data Processing | ||
| + | * Double-click Financial Services Administration | ||
| + | * Double-click Cash Suspense Accounts. You will see this screen: | ||
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| + | [[File:Cash Suspense 1.png]] | ||
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| + | To add a new suspense account, click the Add button on the toolbar. The fields will activate for editing: | ||
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| + | [[File:Cash Suspense 2.png]] | ||
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| + | The following fields are available: | ||
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| + | {| class="wikitable" | ||
| + | |- | ||
| + | ! '''Field''' !! '''Description''' | ||
| + | |- | ||
| + | | '''Acct''' || The account number will default to the next available number on the screen | ||
| + | |- | ||
| + | | '''Description''' || Enter a brief description of the suspense account | ||
| + | |- | ||
| + | | '''GL Account''' || Enter the GL account for this suspense account. You can either manually type in the number or you can click the list icon to select from a list of [[Chart of Accounts Setup|active GL accounts]] in the system | ||
| + | |} | ||
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| + | When you have finished adding the information, click Save. | ||
Latest revision as of 12:48, 3 April 2013
Overview of IL173
Cash Suspense Accounts are used as an offsetting account when making a financial adjustment to penalty amounts or reversing certain transactions (such as loan payment reversals). Anything in these accounts must eventually be cleared via a manual journal entry.
NOTE: You will also want to add the Cash Suspense Account to the checking account(s) in Checking Account Setup in order to process loan payment reversals.
- From the DDI Connect main menu, double-click Financial Services
- Double-click Data Processing
- Double-click Financial Services Administration
- Double-click Cash Suspense Accounts. You will see this screen:
To add a new suspense account, click the Add button on the toolbar. The fields will activate for editing:
The following fields are available:
| Field | Description |
|---|---|
| Acct | The account number will default to the next available number on the screen |
| Description | Enter a brief description of the suspense account |
| GL Account | Enter the GL account for this suspense account. You can either manually type in the number or you can click the list icon to select from a list of active GL accounts in the system |
When you have finished adding the information, click Save.
