1. Implementing Receivables Credit to Cash
  2. Guidelines for Enabling Multifund Accounting

Guidelines for Enabling Multifund Accounting

You enable Multifund Accounting as part of your Receivables System Options setup for a business unit.

The use of Multifund Accounting involves preliminary planning and an understanding of the ramifications related to its use. Before you enable this feature, review all of the guidelines indicated in this topic.

Enable Multifund Accounting

To enable Multifund Accounting, follow these steps:

  1. Navigate to Setup and Maintenance.

  2. Search for the task Manage Receivables System Options.

  3. Open the Create or Edit System Options page for the business unit designated for Multifund Accounting.

  4. If not already displayed, navigate to the Accounting section of the Billing and Revenue tabbed region.

  5. Enable the Enable multifund accounting option.

  6. Save your work.

Caution: Once you enable the Enable multifund accounting option and save the System Options record, you can't disable this feature for this business unit.

To complete your setup for Multifund Accounting, you must also create an accounting method in Subledger Accounting for the primary ledger assigned to this business unit.

Requirements for Business Units and Primary Ledger

Even though you enable the setting for Multifund Accounting as part of the Receivables System Options setup for a business unit, the setting actually applies to the primary ledger and all of the Receivables business units associated with this ledger.

These requirements apply to enabling Multifund Accounting for a business unit:

  • When you enable the Multifund Accounting feature for a business unit, this feature is also automatically enabled on all business units associated with the same primary ledger.

  • If any business unit associated with this primary ledger doesn't require Multifund Accounting, then you must disassociate the business unit from this ledger before enabling the feature.

  • You can only enable Multifund Accounting on business units that don't have any transactions.

Requirements for Cash Budget Funding with Receipts

If you intend to use cash budget funding for receipts, the ledger that you enable for Budgetary Control must be associated with a business unit enabled for Multifund Accounting.

Ensure that you select a ledger belonging to a business unit enabled for Multifund Accounting when you enter and complete the setup for budgetary control and cash budget funding with receipts using the Edit Budgetary Control and Encumbrance Accounting page.

Requirements for Migrating Legacy Transactions

These requirements apply to migrating legacy transactions to a business unit enabled for Multifund Accounting:

  • You must enable Multifund Accounting for a business unit before migrating transactions from your legacy system to this business unit.

  • You can use either an FBDI template or Receivables REST API resources to migrate your transactions.

  • Migrate your legacy transactions as open balances for each transaction line.

  • After migrating your legacy transactions, post all transactions to General Ledger.

To ensure the posting of all migrated transactions to a single journal, in the Edit Accounting Options page for the applicable ledger, set the General Ledger Journal option Entry Summarization to Summarize by General Ledger Date.

This setting lets you manually reverse the journal so that it won't contradict open balance migrations from General Ledger. This also prevents unwanted entries for Revenue, Freight, and Taxes in the current period.