Financial Statements & Interfund Activity
Have the ability to separate interfund activity into a separate column or grouping on the financial statements. The interfund activity artificially inflates the gift, grants, payable and receivable totals and must be backed out for audit purposes
Wendy Ponting
shared this idea
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Anna Wagner
commented
This is a very important idea.
It would be ideal to have a new grouping within the accounts structure (like assets/liabilities/equity) for interfunds that allows the account to maintain its features as a revenue/expense/asset/liability but also would allow them to be grouped together to quickly see they net to $0 and eliminate them from financial activity.