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Hello Francisco, yes, we are using interfund already for the different departments. In our system, Corporate owns all the cash (and the assets etc.) Corporate also has its own revenue and expenses ie: tax refund revenue, and we are also building another building for which the expenses are falling under Corporate rather than one of the existing departments.
Using Interfund, it shows us what portion Corporate "owes" all the other departments. But what happens when Corporate uses the cash from other depts. to increase a Corporate asset? This makes reporting how much of the cash each departments owns quite tricky. It's a little difficult to explain, but in one way surprising to me that more people don't run into this issue...it's huge for us.
Have you considered using like Interfund to accomplish this task, setup due to / due from accounts kind of by department and that way you can track your expenses, revenue or banking with it
Ashes.
We have developed such a report for 2, 3 of our customers and that works fine. I can also help you to get that report.
Ah, understood.
If every transaction was analysed across departments then the sum of these would be the portion of the bank balance that belongs to each department.
However it is probably impossible to go back and analyse each and every tranaction using Analytical Accounting.
If you did take this approach - then you would need to look at all department balances together as some would be negative and some positive (a bit counter intuitive - so that why the balances would only be relevant when viewed together).
Certainly analytical accounting could work - but you eithre back analyse all transactions - or zeroise the bank balance in GL - and then enter GL Journals for each departments balance as it is now - analysed by department.
Food for thought maybe.
Ian.
Yes, we use the Analytical Accounting module extensively.
I have only one bank account where all the cash from all 5 departments flows through. I need to be able at any time to provide a report of how much of the actual cash in the bank account is owned by each department. Is there some sort of formula or report in GP that works for this?
Have you looked at the Analytical Accounting module?
This will allow you to analyse receipts and payments posted to the GL account across departments.
So you can say that this receipt belongs to a particular department etc.
Also, you can print a report of the transactions into the bank GL account by department. - basically a mini cash position per department - so you can see who has overspent etc.
Ian.
I see that my question was too long...here is the rest of it...
Because the cash for all departments runs through the same bank account, HOW do say what portion of the cash is owned by each department? The tricky part is the Corporate also brings in some revenue and has some expenses, so it is not as simple as looking at the DTF for each dept. Sometimes one department also uses more than the cash it owns and "borrows" from another...
Any help you can provide would be MOST appreciated. - Sarah
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