1. Select the Facility – This is the “TO” 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, which will have NIL effect on this Bank account and associated GL account
5. Enter the Value EX Tax, and no GST is applicable
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
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 Senior Debt – Construction Facility balance in the Funding Module has now been increased by $1,000,000. i.e. More funds available
•A Receipt is processed to the Facility Bank account for $1,000,000
9. The Journals generated are processed
•DR – Senior Debt Facility
•CR – CONTRA Account selected
10. A ‘Dummy’ Payment, to a NON Facility account, has been processed to the selected ‘Trading Bank Account’. This will be reversed by the corresponding Repayment Journal to the BILL
