Any Accountants/CPA’s in the House?

[Steve R Jones]

I’m looking for a phrase/term to describe the following type of transaction:


All offices using one accounting package:

Main Office (HQ) writes a check on “behalf” of remote site one. This credits Cash and debits a Due From Balance Sheet account on HQ’s books. At the same time it credits a Due TO account and debits an Expense account on the sites books.

Thoughts?

[Train]

How about Interfund Transfers ?

[Steve R Jones]

Thats close. The due to/due from accounts would be considered InterCompany accounts..

[maxximilian]

I don't know.....but the transaction sounds an awful lot like someone's mom paying their bills for them.....LOL :D

I can see some college kids calling home and asking for an "Interfund Transfer" when their electricity gets shut off because they spent the bill money on one "hellacious kegger party"

:D :D

[shiva_42]

How about "Interbungling Recovery"?

[shiva_42]

Or simply "bail"?