An FT Whose GL Details Reference Multiple Funds

In An Example Of A Bill Segment That References Multiple Funds, where the bill's bill segments reference multiple funds (water and hydrant), the system also creates fund-balancing GL entries for the financial transaction:

• A debit to a departmental GL account triggers a debit to the general fund's liability-to-departmental-fund account and a credit to the departmental fund's equity-in-pending-cash account.
• A credit to a departmental GL account triggers a credit to the general fund's liability-to-departmental-fund account and a debit to the departmental fund's equity-in-cash account.

The net effect of the bill on the GL is that the water fund's EPC has a credit of $0.80, the hydrant fund's EPC has a debit of $0.80, the general fund's liability to the water fund has a debit of $0.80, and the general fund's liability to the hydrant fund has a credit of $0.80. Note that, overall, the general fund's overall liability to the departmental funds nets to zero. Refer to An Example Of A Bill Segment That References Multiple Funds for the resulting consolidated GL entries.