Interfund Sets

Use interfund entry sets to transfer activity between accounts in different funds and ensure distributions balance. When you save an interfund entry set, the program verifies the interfund entries in the set produce a balanced post batch.

Note: Interfund entries cannot be changed after the transaction is posted.

You add interfund sets under Settings, General ledger, GL setup, Interfund sets.

  1. From the Interfund sets list page under General ledger settings, select Add.

  2. Enter the Interfund set ID and description.

  3. Under Interfund settings, select the subledgers for which you want to use this interfund set. You can also make the interfund set the default for a subledger.

  4. Under Interfund entries, enter non-balancing debit and credit funds or accounts from a distribution. Next enter the debit and credit funds or accounts that balance the non-balancing funds or accounts. These are interfund entries.

    Tip: You can select Add from copy to use existing interfund entries.

  5. Select Save.

To edit or delete interfund sets, access the context menu in the list.

 

When you create an interfund set, you define source account numbers for the interfund entry. When selecting source account numbers, you can use account masks to quickly select ranges of accounts without having to enter specific numbers.

By masking accounts, you use asterisks in place of numbers in a segment or segments to designate source account ranges. You can use asterisks as wildcard characters to represent any digit from zero to nine and simplify selecting source accounts.

To indicate accounts in a single fund, you can enter the fund segment and mask the rest of the account number. For example, if you enter 01-*****-**, all accounts in Fund 01 will be used in the interfund set.

To indicate all accounts within all funds, you can mask the entire account number. For example, you can enter **-*****-**.