How To Set Up an Interfund Code

Review How to Use IFC Codes to understand how interfund codes are used in the Horizon Financials module.  

NAVIGATION: MAINTAIN menu > Interfund Code Master

  1. In the Interfund Code field, enter a unique alpha numeric ID.
  2. Type a corresponding Description
  3. Receivable Tab
    1. Interfund Receivable Setup - represents the DUE FROM portion of the transaction.
    2. Select the appropriate Company/Fund Code.
      1. This is the fund where the internal receivable portion of the transaction will be recorded.  
      2. This will usually be the company that contains the checkbook and General Ledger that disperses the payment.
    3. Select the general ledger receivable (Due From) Account Number for the fund.
    4. Enter the balancing Segment Value for the receivable (if applicable) or leave blank.
      1. This would be the portion of the GL Account number that is the main balance control, such as the Fund or Department value from the above receivable (Due From) Account Number.  
      2. This is an optional field but recommended if using Interfund Codes.
    5. Enter one or more segment values in the appropriate Segment 1 through 9 fields. Segments that do not need values may be left blank.
      1. These segments correspond to the GL Account structure setup found in Settings menu > General Ledger Settings.
      2. Each segment that is selected as Balanced, should have a value entered.  
      3. These values should match the values for the above receivable (Due From) Account Number.
  4. Payable Tab
    1. Interfund Payable Setup - Represents the DUE TO portion of the transaction.
    2. Select the appropriate Company/Fund Code.
      1. This is the fund where the internal payable portion of the transaction will be recorded.  
      2. This is the company that the expense is for.
    3. Select the general ledger payable (Due to) account number for the fund.
    4. Segment Value is recommended, but optional. Enter the value of the balancing segment.
      1. This would be the portion of the GL Account number that is the main balance control.  Such as the Fund or Department value from the above payable (Due to) account number.  
      2. This is an optional field but recommended if using IFC.  
      3. For example, if you are paying bills for "Fund 1000", you would enter 1000 in the Segment Value.
    5. Enter one or more segment values in the appropriate Segment 1 through 9 fields. Segments that do not need values may be left blank.
      1. These segments correspond to the GL Account structure setup found in Settings menu > General Ledger Settings.  
      2. Each segment that is selected as Balanced, should have a value entered.  
      3. These values should match the values for the above payable (Due to) Account Number.

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