While trying to post an Outgoing Cash Transfer from a petty cash to another petty cash or to a bank account you get the error message Insufficient Funds In Petty Cash XYZ, even though the Current Balance of the petty cash XYZ is sufficient.
Reproducing the Issue
- Go to Payment Management work center
- Go to Petty Cash view
- Select the row of the respective Petty Cash ID and click New > Outgoing Cash Transfer
- Enter required data and click Post
Error message is thrown:
Insufficient funds in petty cash XYZ
XYZ means the Petty Cash ID you are sending money from
Even though the Petty Cash ID has sufficient balance in the current date (as displayed by Current Balance) the system considers the balance available on the Document Date you are selecting for the Outgoing Cash Transfer, and in this case on the Document Date the balance was insufficient.
For example, on 11.08.2016:
Current Balance: 1.000,00 EUR
In the New Outgoing Cash Transfer you enter Transaction Amount 500,00 EUR and Document Date of 19.07.2016. The system will check the balance available on 19.07.2016.
The balance available on 19.07.2016 was insufficient (e.g. 400,00 EUR) and hence the error message is thrown.
For the petty cash you want to withdraw cash you should check the balance available on the Document Date you've defined in the Outgoing Cash Transfer.
This can be checked using the Cash Reconciliation report, that compares the balances of petty cash, checks, and bank accounts in the cash register against the balances on the reconciliation accounts for a key date.
KBA , AP-PAY , Payment Processing , How To