Accounts Payable - Interfund Entry Set

Patrick Krueger
Patrick Krueger
Third Anniversary
in Blackbaud Financial Edge NXT® General Discussions

We are currently implementing Financial Edge NXT. When entering vendor invoices for payment, is there a way for the system to recognize which fund is being paid from (payable) and which fund in on the expense distribution line so that it can determine which entry set to use? We are hoping the AP person will not have to select a certain rule set for every invoice they enter. I understand we can default one rule for all invoices, but we would like to see if the system could determine which rule to use based on the distributions being used on each invoice.

Comments

  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Patrick Krueger That depends on how the bank is setup. IF the bank is set to track cash in only one fund, then regardless of which fund the liability has on the invoice, the bank will only use the cash account defined in the Single fund. So that means every check will also use balancing interfund entries to balance the debits in credits in each fund. But if you set the bank to track cash in multiple funds, then the bank will try to match the fund of the liability with the fund on the cash account ( provided the cash account for that fund exists. Example if you have 3 funds and the liability exists in each, you may want to create the cash in each fund too then).

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