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:

• Create a cash transaction for the counter cash account. This method is to be used when no separate mixed payment is created for the counter cash account. The cash balance of the counter cash account will be updated on the same date as the cash balance of the mixed payment cash account.
• Create an interim posting which will be balanced when the counter cash transfer transaction in a mixed payment or a cash box for the counter cash account is created and approved. This method is to be used when a separate mixed payment/cash box is created for the counter cash account. It is the only method which is allowed if the counter cash account is connected to a cash box.

 Prerequisites

In order to perform this activity:

• A mixed payment of the NotApproved status should exist.
• The Cash Transfer transaction type should be set to Used for the mixed payment cash account.
• A counter cash account should exist for which Cash Transfer is allowed, i.e. the Cash Transfer Method must be different from Not Allowed.
• If you want to use cash accounts of another company in the cash transfer, your user ID must be associated to the other company and connected to the relevant user data in IFS/Accounting Rules, User Related Data.

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.

Window

Mixed Payment

Related Window Descriptions

Mixed Payment
Mixed Payment/Transactions,

Procedure

To enter a cash transfer transaction:

1. Open the Mixed Payment window and query for the mixed payment in which you you want to include the cash transfer transaction.
2. Create a new record in the Transactions tab.
3. Select Cash Transfer for the Payment Transaction field (if not suggested as default for the cash account of the Mixed Payment).
4. Enter the transfer payment amount in the Amount field. For an outgoing cash transfer  (= transfer from the Mixed Payment cash account) enter the amount with a minus sign in the Amount field or enter the amount in the Credit Amount field, for an incoming cash transfer  (= transfer to the Mixed Payment cash account)  enter a positive amount in the Amount field or enter the amount in the Debit Amount field.
5. Enter the cash account to or from which the amount is transferred in the Counter Cash Account field, or select it from the List of values. The account number of the counter cash account is displayed in the Account Number field, and the cash transfer method of the counter cash account is suggested in the Cash Transfer Method field.
6. Select Cash Transaction for the Cash Transfer Method field, if you want the cash balance of the counter cash account to be updated when the current Mixed Payment is approved. Select Interim Posting for the Cash Transfer Method field, if the cash balance of the counter cash account must not be updated when the current Mixed Payment is approved. Note: If the counter cash account is connected to a Cash Box, only Interim Posting is allowed.
7. Save the information.

To enter a cash transfer transaction with a counter cash account of another company (multi-company cash transfer):

1. Open the Mixed Payment window and query for the mixed payment in which you want to include the multi-company cash transfer transaction.
2. Create a new record in the Transactions tab.
3. Select Cash Transfer for the Payment Transaction field (if not suggested as default for the cash account of the Mixed Payment).
4. Enter the transfer payment amount in the Amount field. For an outgoing cash transfer (= transfer from the Mixed Payment cash account) enter the amount with a minus sign in the Amount field or enter the amount in the Credit Amount field, for an incoming cash transfer (= transfer to the Mixed Payment cash account)  enter a positive amount n the Amount field or enter the amount in the Debit Amount field.
5. Enter the company to which the counter cash account belongs in the Company field.
6. Enter the cash account to or from which the amount is transferred in the Counter Cash Account field, or select it from the List of values. The account number of the counter cash account is displayed in the Account Number field, and the cash transfer method of the counter cash account is suggested in the Cash Transfer Method field.
7. Select Cash Transaction for the Cash Transfer Method field, if you want the cash balance of the counter cash account to be updated when the current Mixed Payment is approved. Select Interim Posting for the Cash Transfer Method field, if the cash balance of the counter cash account must not be updated when the current Mixed Payment is approved but a separate Mixed Payment/Cash Box will be entered for the counter cash account. Note: If the counter cash account is connected to a Cash Box, only Interim Posting is allowed.
8. Save the information.