The following transactions require a 4-part entry in our GL, which we utilize miscellaneous entries to accomplish this requirement:

• AP Invoice for Scholarship Award Payments [and Voids] (DR Scholarship Expense; CR Scholarship Revenue) [reverse DR & CR]

• Cash Receipts for Scholarship Award Refunds (DR Scholarship Revenue; CR Scholarship Expense)

• Cash Management Entries for Emergency Grant Payments (DR Scholarship Expense; CR Scholarship Revenue)

• Cash Management Entries for Bank Check Returns {Fraud, Check Cleared Bank Acct} (DR Scholarship Revenue; CR Scholarship Expense)

If we do not have the option of utilizing miscellaneous entries, we will have to use another less efficient means to record the required miscellaneous entries.