ctcLink Accounting Manual | 40.10.70 Intra-Fund Cash Transfers

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40.10.70 Intra-Fund Cash Transfers

Transfers between departments in same local fund

When transfers occur between different departments within the same local fund, colleges should use 4030130 (Intra-Fund Transfer) for both the transfer out (debit) and the transfer in (credit).

Board authority for these transfers is not required.

This process is frequently used to close out small balances in inactive class/departments.

Illustrative Entries

Intra-fund Transfer Out

Intra-fund Transfer In

 

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40.10.60 Inter-Fund Loans << 40.10.70 >> 40.20 Inter-Agency Transactions