Enter Cash Transfer Transaction Mixed Payment

Explanation

This activity is used to enter money transfers between the cash account for which the Mixed Payment is entered and a counter cash account. The counter cash account can be in the same or in another company.

There are two different methods to post the cash transfer for the counter cash account:

To Perform a Cash Transfer Transaction

To enter a cash transfer transaction with a counter cash account of another company (multi-company cash transfer), enter the company to which the counter cash account belongs in the Company field in the Transactions tab after Selecting Cash Transfer for the Payment Transaction field as per (point 1) above, and follow the next steps accordingly.

 

Prerequisites

In order to perform this activity:

System Effects

For both cash transfer methods a cash transaction and a posting of the PP1 posting type are created for the mixed payment cash account, and the cash balance of the mixed payment cash account is updated.  A payment of the General Payment type is created.

If the Cash Transaction cash transfer method is selected a cash transaction and a PP1 posting with the reversed amounts are created for the counter cash account too. The cash balance of the counter cash account is also updated with the reversed amount.

If the Interim Posting cash transfer method is selected no cash transaction is created for the counter cash account but a PP77 posting with the reversed amount is created instead. The cash balance of the counter cash account is not updated.

If the counter cash account belongs to another company, a multi-company general payment and separate vouchers for each involved company will be created. The voucher will also include inter-company postings for the cash paying/receiving company and the affiliated company based on the posting rules defined for the posting types PP22 and PP23 in each affected company.