1. Select the Bill Facility – This is the “FROM” Facility
2. Select ‘Repayment’ Type
3. Enter relevant Reference and descriptions
4. Select the ‘Trading’ or ‘Dummy’ Bank account in the ‘Trading Bank Account’. This is to be used as the IN/OUT account to allow the transfer
5. Enter the Value EX Tax, and no GST is applicable. *** Must be NEGATIVE AMOUNT ****
6. Select a CONTRA or DUMMY account in the GL Account This is to be used as the IN/OUT account to allow the transfer, which will have NIL effect on this Bank account and associated GL account
7. Click OK to save the transaction
8. Perform the ‘BANKING’ process in the GL in order to process the RECEIPT
The Resulting TRANSACTIONS are as follows
•The Bill Facility balance in the Funding Module has now been reduced by $1,000,000. i.e. LESS Funds available
•A NEGATIVE Receipt (Payment) is processed to the Facility Bank account for $1,000,000
9. The Journals generated are processed
•DR – Senior Debt Facility (negative)
•CR – CONTRA Account selected (Negative)
•(Note: This is the opposite transaction in Step 1 above)
10. A ‘Dummy’ NEGATIVE Payment, to a NON Facility account, has been processed to the selected ‘Trading Bank Account’. (Note: This is the opposite transaction in Step 1 above)
11. This transaction then has NIL effect on the selected Trading bank account
