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Interfund Journal entires

Robert Butynes

Has anyone had success generating automatic interfund journal entries using more than one interfund account? I have 10 funds that all transact with fund 1. In Fund 1 I have 10 intercompany G/L accounts that correspond to each of these funds. I have not been able to get the system to generate automatic intercompany journal entries to each of these accounts. The system will only post to one of the accounts when posting journal entries regardless of which fund is the offset. The functionality works fine if I'm posting transactions in the sub ledgers. Just not journal entries. Thanks

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Sylvia Cook

@Robert Butynes
Do you have this box checked off in your journal entry?

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Robert Butynes

@Robert Butynes
Thanks for the response. Yes. The system creates an automated journal entry. the problem is in fund one, I have 10 different G/L accounts set up, one for each of the interfund relationships. But the system always defaults to 1 account regardless of which fund fund 1 is transacting with. I have the interfund pairs set up.

LeeAnn Schmidtberger

@Robert Butynes
We have multiple funds that transact with the main fund (01). With journal entries they do not automatically create the intercompany entry. The auto entry only works with one fund and the main fund. You have to manually enter the intercompany entry for each different fund.

Arturo Sayco

@Sylvia Cook
You are correct! That box should ALWAYS be checked if you have multiple funds. I had the same issue one time where the box somehow was unchecked and it caused a lot of trouble.

Jennifer Painter

@Robert Butynes Funny I just got of a very frustrating phone call with BB rep who couldn't understand what I was asking (the same question you are here). So if I understand this thread if I set up the different funds in the AR & AP side it will work but need to manually do the interfund entry in the JNLs to hit different interfunds?

LeeAnn Schmidtberger

@Jennifer Painter
That is correct. At least that's how I have to do it. AR and AP do it automatically but all journal entries with interfunds must be entered manually.

Wendy Croker

@Robert Butynes - Our interfund entries are automatically created in journal entries using database and NXT when we click Validate. If we copy from another journal entry, we delete the interfund lines and then click validate to have them created again.

This article has info on how to set it up but I can't recreate these steps in database view anymore. I'm not sure if there is a setting I need to turn on first or if it has moved to NXT. Anyway, I know it does because we do it all the time.

How to configure Interfund entries for Journal Entry use in General Ledger 7 (blackbaud.com).

Wendy Croker

@Robert Butynes I found it in NXT! Here's a screen shot of where you need to turn it on.

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Jennifer Painter

@Jennifer Painter Thank you! Now I just need to untangle my interfunds from what had been happening. LOL

Wendy Croker

@Jennifer Painter Yes, setting up all the interfunds is a challenge. We had help from support when we first set them up. It's hard to explain but for each fund, you have to set up every other fund as an interfund.

If you have 4 funds:

1 needs to have 2, 3, & 4 as interfunds
2 needs 1, 3, & 4
3 needs 1, 2, & 4
4 needs 1, 2, & 3

If you add fund 5, you need to go back to all the other funds and add 5 plus

5 needs 1, 2, 3, & 4

Hope that makes sense!

Jennifer Painter

@Wendy Croker thank you I am going to UN check that so I we are dictating what interfund account to use.

Robert Butynes

@Wendy Croker
Thanks for your response. I am still struggling a bit with the set up. When I am in the edit fund screen. The system does not give me the ability to enter more than one interfund account. What ever account I enter becomes the default account and no matter which fund fund one transacts with, The journal entry always uses this default account. Does your version of NXT allow for multiple accounts in the below edit fund screen? You mentioned support helped you with the set up, would you happen to remember the support person? My support person is telling me the ability to use multiple intercompany pair accounts for journal entries doesn't exist.

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Michael Mannarino

@Robert Butynes
Hi Robert, im looking for a solution to the same question you had. Did you ever find a solution? Thanks

Geoffrey Goodfellow

I came here specifically looking for a solution to this exact problem. I have interfund entries setup and working well for my sub-ledgers, and we also use the same setup as @Wendy Croker . However, I have made no progress on setting up interfund entries for journal entries, since this is not done in GL Setup > Interfund but is instead done on GL Setup > Fund, and it appears as @Robert Butynes has indicated that I am limited to a single account for debit and a single account for credit. Just as in the sub-ledger setup, we have due to/from between all of our various funds, so at the fund level setup, I'm not able to specify a single debit/credit interfund account.

Geoffrey Goodfellow

Came across this very idea in the Idea Bank if people on this thread are inclined to vote for it and add your own comments: https://financialedge.ideas.aha.io/ideas/FENXT-I-2571