Interfund Journal entires

Robert Butynes
Robert Butynes
Name Dropper First Anniversary Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

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

Comments

  • Sylvia Cook
    Sylvia Cook
    Sixth Anniversary Kudos 5 Name Dropper Participant

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

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  • Robert Butynes
    Robert Butynes
    Name Dropper First Anniversary Facilitator 1

    @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
    LeeAnn Schmidtberger
    Eighth Anniversary Kudos 2 Name Dropper Facilitator 1

    @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
    Arturo Sayco
    Eighth Anniversary Kudos 1 Name Dropper Participant

    @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
    Jennifer Painter
    Sixth Anniversary Kudos 1 Name Dropper Facilitator 1

    @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
    LeeAnn Schmidtberger
    Eighth Anniversary Kudos 2 Name Dropper Facilitator 1

    @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
    Wendy Croker
    Seventh Anniversary Kudos 2 Name Dropper Facilitator 1

    @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
    Wendy Croker
    Seventh Anniversary Kudos 2 Name Dropper Facilitator 1

    @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
    Sixth Anniversary Kudos 1 Name Dropper Facilitator 1

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

  • Wendy Croker
    Wendy Croker
    Seventh Anniversary Kudos 2 Name Dropper Facilitator 1

    @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
    Jennifer Painter
    Sixth Anniversary Kudos 1 Name Dropper Facilitator 1

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

  • Robert Butynes
    Robert Butynes
    Name Dropper First Anniversary Facilitator 1

    @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
    Michael Mannarino
    Name Dropper Participant First Anniversary Facilitator 1

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

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