Example

A donor establishes a named endowment and would like it to support both the Chemistry and Biology departments. To accomplish the donor’s wishes, the school would like to transfer 50% of the annual income produced by the endowment to the Chemistry Department’s General Ledger account and 50% to the Biology Department’s General Ledger account. A recurring cash transfer is created for the KEMID representing the named endowment. The recurring transfer has a document type of EGLT, has two entries in the General Ledger Transfer Target section—one for Chemistry and one for Biology—and each entry has a target percent of 50%.

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