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 General ledger, Settings, 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.