Create line items to split transactions, allocate portions to different accounts, manage shared costs, and add multiple accounting codes for more detailed classification.
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With Mazlo, you can split transactions by adding line items. Each line item can be allocated to a different account and coded for a unique purpose. This feature aims to help you manage your organization's finances with precision and flexibility. Now you can easily see resulting internal transfers from a financial split by clicking on the linked credit and debit within the original transaction.
Adjust the amount of the first line item.
Enter the amount of the additional line item.
When a transaction is perfectly balanced, the sum of all the rows will equal the amount of the original transaction.
Click the Accounting Code field.
Select the accounting code for this portion of the deposit.
You can add other relevant details for this line item, such as the donor's name, a program code, the grant profile, a description, and upload attachments.
Click 'Assign to another account.'
Select the account that the additional line item will be transferred to.
When the target project account has a different shared cost percentage set, you will see that change reflected in the transaction details.
Once a new line item has been created, you must save the transaction details before settling any shared costs.
Click 'Save' to save the transaction details and initiate the internal transfer.
Review the internal transfer details and confirm. *This will transfer funds between the accounts.
Once the transaction details are saved and the internal transfer is initiated, you may view the linked credit and settle the shared cost.
Step 3: Confirm the Internal Transfer of the Shared Cost
Review the internal transfer details and confirm.
Once you settle the shared cost and confirm the internal transfer, the shared cost will be deducted from the deposit and transferred to the primary account.
From the linked credit details, you can update the transaction details and view the updates within the original transaction details.
For example, update the accounting code within the linked credit.
Select a new accounting code.
Save the transaction details.
Click 'View Original Transaction.'
From the Original Transaction details, you will see the shared cost has been settled and the accounting code has been updated.
Adjust the amount of the first line item.
Enter the amount of the additional line item.
When a transaction is perfectly balanced, the sum of all the rows will equal the amount of the original transaction.
Click the Accounting Code field.
Select the accounting code for this portion of the debit.
You can add other relevant details for this line item, such as the payment category, a program code, the grant profile, a description, and upload attachments.
Click 'Assign to another account.'
Select the account that the additional line item will be transferred to.
This will initiate an internal transfer to credit the account that made the original payment.
Click 'Save' to save the transaction details.
Review the internal transfer details and confirm. *This will transfer funds between the accounts.
Once the transaction details are saved and the internal transfer is initiated, you may view the linked debit transaction.
From the linked debit details, you can update the transaction details and view the updates within the original transaction details.
For example, update the accounting code within the linked debit.
Select a new accounting code.
Save the transaction details.
Click 'View Original Transaction.'
From the Original Transaction details, you will see the accounting code has been updated.
Please contact our team if you have any questions: support@mazlo.com.
