Fund Accounts

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The fund accounts are created on this screen. Above the Fund Account the status of the selected fund is indicated. Possible status messages are Active Account, Inactive Account, or New Account.

Fund Account:

Enter a code to distinguish each fund. To create a new account enter a new account number and then press Ctrl-N, click on the New toolbar button, or select New from the File menu.

Description:

Enter a description to distinguish each fund.

G/L Account:

Enter a general ledger owner's equity account. Each fund account is tied directly to an owner's equity account. This is the equivalent to a Current/Retained Earnings account. The fund account will appear as the 'owner' of the G/L account to which it is tied. If a G/L Account entered doesn't exist, an opportunity to create the G/L owner's equity account will be given. The description of the new G/L account will be the description of the fund with the word Earnings appended to the end of the fund account description. Each income and expense account is tied directly to a fund. These accounts are then posted to the fund's G/L Account.

Balance:

This contains the current fund balance. It is updated as items are posted to the G/L Account.

The Delete function changes the fund's status from Active to Inactive or Inactive to Active. Inactive accounts can be used but do not appear in the search lookups of the fund accounts. Using an inactive account will trigger an alert during entry.