PowerSchool ERP Fund Accounting
PowerSchool ERP Fund Accounting
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Interfund Balancing Accounts Reference Table

20.11 and later.

This reference table defines the Due To/Due From accounts that a disbursement fund uses when generating journal entries for cash transactions related to the following transaction types:

  • Payroll

  • Accounts Payable

  • Cash Receipts

From the Fund Accounting menu, select Reference Tables. From the Fund Accounting menu, select Interfund Balancing Accounts.

It is strongly recommended to do the following:

  • Complete all setups in your test environment first.

  • Wait for the start of a new fiscal year to enable Interfund Balancing.

Search Records

Use the Search Criteria to search for Due To/Due From records by Year or Fund.

Refer to this chart for how the Interfund Balancing Accounts reference table works with the Cash Interfund Balancing option in the Fund Accounting Profile:

If Fund 2 is a disbursement fund or payroll fund, then the Due To and Due From accounts must be entered.

Cash Interfund Balancing

Fund 1/Fund 2

Due To/Due From Accounts Used

Y

Fund 1 = Expensing Fund

Fund 2 = Disbursement Fund

Due To Fund 2 Account

Due From Fund 1 Account

Y

Fund 1 = Disbursement Fund

Fund 2 = Expensing Fund

Due To Fund 1 Account

Due From Fund 2 Account

Y

Neither Fund is a Disbursement Fund

No Due To/Due From journal entries created

N

N/A

N/A

Transaction Types

The following transaction types are included in the Cash Interfund Balancing option:

Function

Journal Entry Transaction Label

Manual Checks

MANCHKS

Batch Manual Checks

MANCHKS

Vendor Checks

VENCHKS

Post Accounts Payable

VENCHKS

Batch Accounts Payable

VENCHKS

Change Accounts Payable

VENCHKS

Approve/Deny Payables

VENCHKS

Standard Payables

VENCHKS

Close Purchase Orders

VENCHKS

Post Receipts

RECEIPT

Batch Receipts

RECEIPT

Payroll Transactions

PAYCHKS

Create a Record

  1. Choose the Interfund Balancing Crosswalk page.

  2. Click Add New.

  3. Select the Year to identify the fiscal year which is associated with the record.

  4. Under the Funds section, select Fund 1 and Fund 2. These funds are used to define the Due To/Due From accounts. Both fields must be entered. The fund title from the organization table displays to the right of the Fund 1 and Fund 2 fields. If you change fund 1 or fund 2, the title corresponding to that fund is displayed.

  5. Under the Due To/Due From Accounts section, define the crosswalk accounts if necessary. Refer to the Fields section.

    1. If a value for any field is entered, all 4 fields must be entered for the record to save.

      If the Full Account Format option is enabled in the Fund Accounting profile, then:

      • The placeholder text displays in the account number fields and the help message displays when the user hovers on the field.

      • Enter the account number in all fields based on the format defined for the general ledger in the Fund Accounting profile translation page.

      The Full Account Format option is available in versions 22.4 and later.

  6. Select the Auto-Balance JE Accounts if necessary. Refer to the Fields section.

    1. If a value for either field is entered, both fields must be entered for the record to save.

  7. Select Accept.

At least one Accounts section must be entered for the record to save.

Fields

Field

Description

Fund 1

Enter the Organization Level 1 fund from the Fund Accounting Profile.

Fund 2

Enter the Disbursement fund from the Fund Accounting Profile.

Fund 1 Due To Fund 2

Select an asset or liability account that can track how much Fund 1 cash is owed to Fund 2.

Fund 1 Due From Fund 2

Select an asset or liability account that can track how much Fund 1 cash is held by Fund 2.

Fund 2 Due To Fund 1

Select an asset or liability account that can track how much Fund 2 cash is holding for Fund 1.

Fund 2 Due From Fund 1

Select an asset or liability account that can track how much Fund 2 cash is owed by Fund 1.

Fund 1 Auto-Balance JE Account

Select an asset or liability account to be automatically balanced.

Fund 2 Auto-Balance JE Account

Select an asset or liability account to be automatically balanced.

22.4 and later.

  • If Full Account Format is turned on in the Fund Accounting profile, the labels for the account fields above that appear in the Due To / Due From Accounts and Auto-Balance JE Accounts sections use the names of the funds instead of Fund 1 Due to Fund 2. For example, if Fund 1 title is General Fund and Fund 2 title is Payroll Fund, then, the field label will be General Fund Due to Payroll Fund appended with the <Full Account Title> defined in the Fund Accounting profile.

  • If the Full Account Format option is not active, then the field label will be General Fund Due to Payroll Fund Account. The word Account is appended.

  • If you change Fund 1 or Fund 2, then the field labels are automatically updated. For example, if you change Fund 2 from Payroll Fund to Capital Fund, then the label will be General Fund Due to Capital Fund Account or Capital Fund <Full Account Title>.

Payroll Information

For Interfund balancing of payroll charges, you must set up entries in the Interfund Balance Accounts table as follows:

  • Fund 1 = Salary or Benefit fund

  • Fund 2 = Payroll fund