In the Cash Withdrawal panel, you can post a cash payable for any local currency and indicate whether to settle the cash withdrawal automatically or manually.
Post a Cash Withdrawal
To post a cash withdrawal:
- From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
- Enter Cash Withdrawal in the Start Search text box.
- Click the Cash Withdrawal (Accounting Center) link to access the panel.
You see the Cash Withdrawal panel.
- Complete the options on the Cash Withdrawal panel.
- Click Submit.
- Close the Cash Withdrawal bottom tab to return to the Accounting Center.
Example - Cash Withdrawal
The following example shows data you can enter in the Cash Withdrawal panel.
The Cash Withdrawal panel is basically the same as the Cash Contribution panel. The only difference between the two is the Event Category field value of WITHDRAWALS.
When the Withdrawal Currency field value is not equal to the entity Base Currency field value, the panel executes a lookup to return the most recent FX rate (based on FX Rate Source field value stored for the specified entity). You can override the FX rate, and the panel recalculates the base amount.
As with the Cash Contribution panel, you can set the Settle Trade Indicator field to a value of either Yes or No. If you select Yes, the transaction is auto settled to cash. If you select No, the transaction has to be manually settled or picked up by the Contract Cash event that can be scheduled.
View Withdrawal Results in the Cash Journal
After you submit the Cash Withdrawal panel, you can view the processed cash activity using the Cash Journal report.
The Cash Journal report not only displays the Canadian Dollar withdrawal, but also segregates the CAD activity from any other currency.
The system reports and stores cash activity at both the traded and settled level. The cash balances for these transaction types can be considerably different from one day to the next, based on an entity's unsettled transactions.
Add Comment