Financial Split: Deposits

Whether you're handling a large check or an ACH transfer, Mazlo simplifies the process of distributing funds across various accounts to meet your specific needs.

Introduction: Split Deposits into Multiple Accounts

Mazlo allows you to split deposits, enabling you to allocate funds from a single check or ACH deposit into multiple accounts. This feature ensures that each portion of the deposit is directed to the appropriate account, making it easier to manage your organization's finances with precision and flexibility.

Split a Check Deposit

Step 1: Open the Check Deposit Transaction

Step 2: Click ‘Add Financial Split’

Splitting a check deposit allows you to distribute funds into multiple accounts.

Step 3: Select the Target Accounts

Click 'Select an account.’

Select the target account for this portion of the check.

Step 4: Enter the Amount to Split and Transfer

Enter the amount that will be split and transferred into the target account.

Step 5: Make an Additional Split

You can add as many splits as you need to allocate the check into the correct accounts.

Step 6: Select the Additional Target Account

Click 'Select an account.’

Select the target account for this portion of the check.

Step 7: Enter the Amount to Split and Transfer

Enter the amount that will be transferred into the target account.

Step 8: Adjust the Original Deposit Amount

When a split has been allocated, the amount of the first row needs to be adjusted. When a transaction is perfectly balanced, the sum of all the rows will equal the original amount.

Step 9: Mark the Transaction as Complete and Click ‘Save’

Mark the transaction as 'Complete.'

Click ‘Save.’

Step 10: Confirm the Internal Transfers from the Split

If the amount of a row is $0.00, click ‘Yes’ to confirm that this is intentional.

Review the internal transfers.

Click the arrow to review all the internal transfers and click ‘Confirm.’

Step 11: Success! The Split has been Sent through Internal Transfers

From the Transactions list, each split will have two transactions: a debit from the original account and a credit to the target account.

Code Internal Transfers from the Check Deposit Split

Step 1: Open the Internal Transfer Credit from the Financial Split

For each Financial Split, the Sponsor’s Transaction list shows both sides of the internal transfer: a debit ( - ) and a credit ( + ).

Step 2: Add an Accounting Code to the Internal Transfer Credit

Select the correct code to match your chart of accounts.

Step 3: Mark the Transaction as Complete and Click Save

Mark the transaction as 'Complete.'

Click ‘Save.’

Step 5: Open the Additional Credit from the Financial Split

Step 6: Complete the Transaction Details, Mark it as Complete, and Save

Step 7: Next, Open the Debit from the Internal Transfer

Step 8: Complete the Transaction Details, Mark it as Complete, and Save

You can code the internal transfer debit to match your chart of accounts, or leave it blank.

Step 9: Open the Additional Debit from the Financial Split

Step 10: Complete the Transaction Details, Mark it as Complete, and Save

You can code the internal transfer debit to match your chart of accounts, or leave it blank.

Step 11: Success! All Internal Transfers have been Updated and Marked as Complete

Split an ACH Deposit

Step 1: Open the ACH Deposit Transaction

Step 2: Click ‘Add Financial Split’

Splitting an ACH deposit lets you distribute incoming funds to multiple accounts.

Step 3: Select the Target Account

Click 'Select an account.’

Select the target account for this portion of the ACH deposit.

Step 4: Enter the Amount to Split and Transfer

Enter the amount that will be transferred into the target account.

Step 5: Adjust the Original Deposit Amount

When a split has been allocated, the amount of the first row needs to be adjusted. When a transaction is perfectly balanced, the sum of all the rows will equal the original amount.