Adding Interfund Accounts

General Ledger’s automatic interfund balancing feature uses interfund accounts, sometimes known as “due to/due from” accounts, to make the adjusting entries that keep your funds in balance when one fund uses a cash account belonging to another fund.

Click SETUP on the Main Menu screen and then click FUNDS on the Maintain Ledger Settings screen that appears. The Browse Funds screen opens with all active funds displayed in a table.

Select how you want to order the fund table from the ordered by drop-down list, enter the search criteria in the search for field and click GO. The first fund to match the criteria is highlighted in the table.

Highlight the fund record you want to work with and double-click, or click

. The Maintain Funds screen opens with the Fund tab selected.

Select the Inter-Fund Accounts tab and click

. The Inter-Fund Accounts Wizard is initiated.

To define the "due from" account, select the originating fund ("due from" fund) and the receivable from other fund ("due from" account).

Click START to continue.

To define the "due to" account, select the other fund ("due to" fund) and the payable to originating fund ("due from" account).

Click NEXT to continue.

Review and confirm the interfund account information you have set up and click FINISH to apply your changes and add the interfund accounts to the fund.