Example
A donor replied to a direct mail appeal by sending a $100 check to support the School of Journalism Dean's Unrestricted Fund. The funds were deposited as income for the KEMID representing this fund. Upon receiving a receipt, the donor realized that he meant to direct the money to the School of Engineering Dean's Unrestricted Fund. The donor contacted the institution and appropriate entries were made on the institution's gift system to correct the donor's giving history.
To make the change in KEM, a cash transfer was initiated. On the Cash Transfer e-doc, the From transaction line specified $100, the Journalism Fund KEMID, and Income. The To transaction line specified $100, the Engineering Fund KEMID, and Income. After this transaction was approved through workflow and processed in KEM, the Journalism KEMID showed its income cash balance reduced by $100 and the Engineering KEMID showed its income cash balance increased by $100.
Endowment To GL Transfer Of
Funds