How to have interfund entries appear on Balance sheets

Interfund entries are made between funds, usually when an expense in one fund is being paid by another fund. Interfund entries are required because each fund is a separate self-balancing set of accounts and, therefore, each fund must be in balance. The interfund entries use either the transfer or due to/due from accounts to balance the fund. Due to/due from accounts are balance sheet accounts and transfer accounts are Income Statement accounts.

Article Number: 45606

Products:

General_Ledger

1. In General Ledger, Configuration, open Funds (or Companies, Entities, etc.)
2. On the Interfund tab, select either the use of a single account or the use of a separate debit and credit account.
3. Choose a Balance Sheet account instead of an account categorized as Transfer.
4. Click Save and close.

NOTE: You need to move all transfers currently recorded in the Transfer category to the new account(s) chosen on the Fund record. This change is not retroactive.

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