The repayment Journals allow you to transfer funds from one facility to another, or to repay a facility from a NON funding Bank account, i.e. the transaction account.
The following sections detail both these processes.
Transferring between 2 facilities in the Funding module
This process is carried out in 2 steps and must be processed through a ‘Trading bank account’ (non-Funding) and a Contra GL account in order for the correct transactions to be created in both the “FROM” (step 1) and “TO” (Step 2) Facilities and associated bank accounts.
In this example we are moving $1,000,000 into the Senior Debt – Construction Facility, FROM the CBA Bill Facility