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PA: Transfer to G/L

Make the following menu selections to display this page:

eFinancials—Partnership Accounting—Transfer to G/L

Use this page to perform transfers to the general ledger for Partnership Accounting transactions, as the functionality of the PA: Transaction Entry Grid process does not create the G/L transactions. The Transfer to G/L process creates journal entries for all untransferred Ownership Contribution and Non-Ownership Contribution transactions and then shows a report of the transferred items.

About Transfer to G/L

• Transactions are set up in Transaction Entry. The transactions that appear in the Transactions Entry grid have not been transferred to the general ledger yet (unless the Include Transferred Transactions check box is checked).
• The current batch is used for journal entries that are created for all Ownership Contribution and Non-Ownership Contribution transactions. Note that Transfer to GL does not transfer Manual Distributions.
• If a transaction is not valid, then the transfer skips that transaction.
• A report is generated of the transferred items. Transactions that are skipped include the reason in the Message column of the report.
• The accounts used are set up on the Partnership Setup page or the contribution override account set up on the Inventor/Partnership Links page.
• Ownership Contribution transactions will debit cash and credit equity.
• Non-Ownership Contribution transactions will debit cash and credit contributions.
• Manual Distribution transactions will not affect the general ledger.
• The batch and general ledger transactions have no approval process.

Refer to the Partnership Accounting Overview for more information.

Effect of Permissions

Fields List

Fields

Report Format

Select a format for the Partnership Transfer to GL report that prints for the Transfer to GL. Options are PDF and Create Spreadsheet.

Transfer (button)

Click the button to perform the transfer to GL for the current batch.

Procedure

To Transfer to G/L

1. Select Partnership Accounting—Transfer to G/L. The Transfer to G/L page appears.
2. Select a report format for the Partnership Transfer to GL report that prints for the transfer. Options are PDF and Create Spreadsheet.
3. ClickTransfer.
4. The system may prompt for a Batch to be added. Refer to Batches Grid/Tabs for help.
5. The transfer processes and the report prints. Refer to the Message column on the report for messages about the transactions in the transfer.

Report Details

The Partnership Transfer to GL report, which appears after the Transfer to G/L process completes, shows the following.

Transaction ID, Sequence Number, Partnership ID, Investor ID, Transaction Date, Type of Transaction, Amount (for the Seq No), Entity/Company, Journal, and Message.

See Also

Partnership Accounting Concepts Overview

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