Fund Accounting Funds Or Accounts Tab

Use this tab to define important fund and account settings necessary for establishing the General Ledger, default disbursement fund for issuing vendor checks, payroll fund to use for paychecks, and account ranges for categorizing your records in the Account List.

You will use all the control accounts you enter on this tab to associate with your fund (Organization Chart level 1) records in the General Ledger. Doing so makes it possible to use budget units (lowest Organization Chart level) tied to the fund. Budget units are used for recording financial transactions throughout your Financial Systems software.

Important
You must tie all the accounts from this tab to each Fund you are tracking through Fund Accounting's General Ledger. To do so, access the following option: Fund Accounting > Entry & Processing > General Ledger > Balance Sheet.

Account Range Setup

This tab includes five sets of fields for establishing account code ranges used for classifying records from Fund Accounting's Account List. The ranges distinguish between asset, liability, fund equity, revenue, and expense accounts (objects). They can be entered as either numbers or a combination of alphabetic characters and numbers. For example:

Assets	0001 - 0999		A0001 - A9999
Liabilities	1000 - 1999		L0001 - L9999
Fund Equity	2000 - 2999	OR	F0001 - F9999
Expenses	3000 - 6999		E0001 - E9999
Revenues	7000 - 9999		R0001 - R9999

The system reads account codes from left to right, as you would in alphabetizing a list. Based on this, the code 1000 sorts ahead of 200, even though it is a larger number. To ensure proper sorting, maintain a uniform length by using leading zeroes to fill any codes that are shorter than your longest codes. For example, if your longest account codes are four digits long, add zeros to the front of any codes that are three digits or less (100 becomes 0100).

Uniformity also prevents account ranges from overlapping. For example, if you define your Expenditures range as 100 to 999 and the Revenue range as 1000 to 1999, the system will mix revenue accounts with expenditure accounts, since it reads the codes from left to right. An Expenditures range of 0100 to 0999 would keep the ranges separate.

Fields

Field	Description
Disburse(ment) Fund	Fund (Organization Chart level 1 record) which represents the system default for distributing cash. Accounts payable checks are recorded against this fund unless the system is otherwise directed when vendor checks are processed.
Payroll Fund	Fund (Organization Chart level 1 record) from which payroll checks are written. Deduction and fringe benefit amounts are recorded against this fund as well. It may be the same as the record entered in the Disburse Fund field.
Cash	General Ledger cash account where accounts payable checks, manual checks, and receipts are recorded. The cash account must be a code from the range identified in the Funds/Accounts tab's Assets fields.
Payroll Cash	General Ledger payroll cash account where paychecks are recorded. This must be a code from the range identified in the Funds/Accounts tab's Assets fields. You can use the same account as the one entered in the Cash field.
Payroll Bank Account	The bank account to be used for paying Payroll checks. This field should only be used if Print Checks by Bank Account is Selected on the Accounts Payable Tab.
Payroll Vendor Payments Bank Account	The bank account to be used for Payroll Vendor payment. This value is defaulted from Payroll Bank Account. This field should only be used if Print Checks by Bank Account is Selected on the Accounts Payable Tab.
Accts Payable	General Ledger account where accounts payable transactions are credited. This must be a code from the range identified in the Funds/Accounts tab's Liabilities fields.
Budget FB (Fund Balance)	General Ledger budget fund balance account for tracking the offset of (difference between) the expenditure budget and revenue budget control accounts for the current fiscal year. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Exp Bud Control (Expenditure Budget Control)	General Ledger expenditure budget control account which provides a summary, by fund, for the budgets posted to records in the Expenditure Ledger. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Rev Bud Control (Revenue Budget Control)	General Ledger revenue budget control account which provides a summary, by fund, for the budgets posted to records in the Revenue Ledger. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Fund Balance	General Ledger fund balance account which tracks the difference between expenditures and revenues for all transactions tied to a specific fund. This must be a code from the range identified in the Funds/Accounts tab's Equities fields. When the Final Close option is run for a fiscal year, the system updates the appropriate fund balance records with the difference between expenditures and revenues for Period 13 transactions from the year that was closed.
Enc(umbrance) Control	General Ledger encumbrance control account which tracks encumbrance amounts posted in the Encumbrance Ledger for records tied to a specific fund. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Important	The account codes in the following profile fields must be unique: Pay Res for Enc, Res for Enc, and Pay Enc Control.
Pay Res for Enc (Payroll Reserve for Encumbrance)	General Ledger payroll reserve for encumbrance account. This account provides an offset for transactions debited in a fund's Payroll Encumbrance Control account. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Res for Enc (Reserve for Encumbrance)	General Ledger reserve for encumbrance account. This account provides an offset for transactions debited in a fund's Encumbrance Control account. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Exp(enditure) Control	General Ledger expenditure control account. This account tracks the expenditures charged in the Expenditure Ledger for records tied to a specific fund. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Rev(enue) Control	General Ledger revenue control account. This account tracks the revenue received in the Revenue Ledger for records tied to a specific fund. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Pay Enc Control (Payroll Encumbrance Control)	General Ledger payroll encumbrance control account reflects the payroll encumbrance amounts posted to the Expenditure Ledger for a specific fund. This must be a code from the range identified in the Funds/Accounts tab's Equities fields.
Tax Payable	General Ledger tax payable account tracks the vendor use tax amounts charged in the Expenditure Ledger for records tied to a specific fund. This must be a code from the range identified in the Funds/Accounts tab's Liabilities fields. If a use tax is not assessed on your vendor payments, you can make one of the following entries in this field: Use the entry from the Accts Payable field. Enter an account in the Liabilities range that you are not otherwise using.
Important	Before establishing account ranges in the following fields, read the Account Range Setup section above.
Assets	Range of account numbers for asset accounts, such as your Cash and Payroll Cash accounts. This range must be unique from those defined for Equities, Liabilities, Revenue, and Expenditures. The system checks the range during data entry to validate that an asset account is entered where appropriate and necessary.
Equities	Range of account numbers for equity accounts, specifically the control accounts set up in the General Ledger. This range must be unique from those defined for Assets, Liabilities, Revenue, and Expenditures. The system checks the range during data entry to validate that an equity account is entered where appropriate and necessary.
Liabilities	Range of account numbers for liability accounts, such as the Accounts Payable and Tax Payable accounts used in the General Ledger. This range must be unique from those defined for Assets, Equities, Revenue, and Expenditures. The system checks the range during data entry to validate that a liability account is entered where appropriate and necessary.
Revenue	Range of account numbers for revenue accounts. This range must be unique from those defined for Assets, Equities, Liabilities, and Expenditures. The system checks the range during data entry to validate that a revenue account is entered where appropriate and necessary.
Expenditures	Range of account numbers for expenditure accounts. This range must be unique from those defined for Assets, Equities, Liabilities, and Revenue. The system checks the range during data entry to validate that an expenditure account is entered where appropriate and necessary.