Example
At the start of the fiscal year, the Department of English transferred $50,000 from an endowment into its General Operating Account. Over the course of the year, the department used only $40,000. Per the terms of the donor agreement, the department must now transfer the unspent $10,000 back to the endowment. To accomplish this action, the department initiates a GL to Endowment Transfer of Funds transaction. In the transaction, the department specifies the Department of English operating General Ledger account number in the From transaction line and $10,000 as the transaction amount. The department lists the Department of English Endowment KEMID on the To transaction line and $10,000 as the transaction amount. After this transaction is approved through workflow and processed in KEM and KFS, the GL available balance has been reduced by $10,000 and the KEMID available cash has been increased by the same amount.
Liability Decrease