Funds

Fund codes are unique identifiers used to track and manage different sources of funds within an organisation. These codes are particularly important in fund accounting, which is commonly used by non-profit organisations, government entities, and educational institutions.

How to view Funds

View Funds

  1. Select General / Funds from the Settings section of the pulse menu -

    Note

    This is an example screen shot of the pulse menu.

    Position of the menu items within pulse will vary according to available options and dependant on personal screen resolution.

    or enter Funds in the Quick Launch Side Menu.

  2. This will then show the Funds already set up on the system where normal customisation of Sets can be used, and the ability to filter using the Tree option.

    Tip

    To modify the columns displayed, select on the top right of the page, then tick/untick the information you want to hide or display.

How to create Funds

Create a new Fund

  1. Select Fund from one of the options as shown above in Viewing a Fund.

  2. Press New.

  3. Enter the following fields.

  4. Select Create.

How to view the Year End Rollover

Year end rollover

  • Funds have been created to as an enhancement to the Year end rollover process for organisations that have Fund accounting, such as Charities or Not for profit organisations.

  • Each Fund can have a Fund type.

  • The Funds will have separate GL codes on the balance sheet, instead of having all income and expenditure showing on a single account.

  • The destination accounts are set in Retained profits in the Period End section in the Account defaults.

  • Specifying individual Funds or Fund types will point to the Destination Account which will be used in the Balance sheet.

    Destination Account: This is the destination account that will be defaulted from the selection criteria.

    Fund: By entering a Fund, this will be used as part of the selection criteria when defaulting the destination account.

    Fund type: By entering a Fund type, this will be used as part of the selection criteria when defaulting the destination account.

  • Running the Year end process for the particular Legal Entity will create a Manual journal.

    This shows the appropriate Balance sheet codes based on settings made.

  • Once this is posted, the balances will be transferred to the Trial Balance against the appropriate GL code.


Updated August 2024