To post miscellaneous income or miscellaneous expense:
- In Accounting Center, in the left navigation pane, click Transactions > Cash > Misc. Income & Expense.
You see several panels that begin with Add Misc. related to viewing and maintaining miscellaneous income and expense. - Click one of the following options to access the panel:
– Add Misc. Expense - Position Level
– Add Misc Expense - Asset Specific
– Add Misc Income - Position Level
– Add Misc Income - Asset Specific
You see the selected panel. - Complete the options on the panel.
- Click Submit.
Example - Post a Miscellaneous Expense
Each Income or Expense panel requires you to enter the Entity ID, Income/Expense Date, Settlement Date, Currency Code, Rec/Pay Event Type (set up during implementation based on your requirements), and Local Amount field values. If you select an Asset Specific panel, you are required to enter a Security Identifier field value.
As with cash contributions/withdrawals, you can also set up the Settle Trade Indicator field during income/expense entry to auto settle, that is, not only to set up the receivable or payable cash activity, but to process the cash settlement as well.
The following example shows data you enter in the Add Misc. Expense - Position Level panel.
The usage of the Rec/Pay Event Name field is for classification purposes only. The cash effect of the sample processed expense is properly displayed in the Cash Journal report.
Example - Post a Miscellaneous Income Asset Specific Entry
When you post a Miscellaneous Income/Expense - Asset Specific entry, you need to enter a specific security identifier into the panel.
The following example shows data you enter in the Add Misc. Income - Asset Specific panel.
You are also required to enter the transaction units in the Units field. This field has no accounting usage, but can be used for reporting.
The Cash Journal report displays the issue name of the selected security for the asset specific income activity.