From the General Ledger screen, select the Maintenance menu, Reference Files, and then Funds.
At the Funds screen, click the New Record button.
Note: For any field equipped with the repeat function, click the Repeat button or press the Ctrl+R keys to repeat the previous entry for the specified field. The repeat function is only available after your initial entry.
Enter the number for the fund in the Fund Number field. The number must be 2 or 3 digits long, depending upon the designated reference structure for your database.
Enter the description for the fund in the Fund Description field. The description can be up to 100 characters long.
Select the Automatically Start New Fiscal Year field to have the system automatically create the next fiscal year dates for the fund when completing processes in the School Accounting System for a month within a fiscal year that is not yet defined, instead of prompting the user to complete the Start New Fiscal Year option in order to continue with the process. A checkmark will appear in the box if the field is selected. When adding a new fund, the Automatically Start New Fiscal Year field is selected by default.
Note: If this field is selected, the new fiscal year dates will only be created for an active fund if the latest fiscal year currently defined is within one year of the new fiscal year dates to be created (for example, if the latest fiscal year for an active fund is three years ago, the new fiscal year for next year's dates will not be created for the fund since the fiscal years are more than one year apart). Also, if this field is selected, the new fiscal year dates for the fund will be created for the same time frame as the prior fiscal years (for example, if the prior fiscal year is defined to be 12 months, the new fiscal year will also be 12 months, or if the prior fiscal year is defined to be 18 months, the new fiscal year will also be 18 months).
Select the Active field to stipulate the fund is currently active and used in the School Accounting System. A checkmark will appear in the box if the field is selected. When adding a new fund, the Active field is selected by default.
Select the Activity Fund field to have the fund operate as an activity fund where the fund balance accounts update immediately when entries are posted to revenues and expenditures tied to the specific fund balances. A checkmark will appear in the box if the option is selected.
Note: If the fund is not set up as an activity fund, the fund balance(s) will only be updated at the end of the fiscal year.
Select the GASB 34 Fund field if the fund is used only to enter adjustments for the GASB 34 reports. A checkmark will appear in the box if the option is selected.
Note: If this field is selected for a fund, the fund will zero out at the end of fiscal year.
Enter the ID of the checking account that will be used when writing checks from the particular fund in Accounts Payable in the Accounts Payable Checking Account ID field, if applicable. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
Enter the ID of the checking account that will be used when writing checks from the particular fund in Payroll in the Payroll Checking Account ID field, if applicable. If the ID is not known, click the down-arrow button to select the correct one, or press the Ctrl+F keys to access the search feature.
In the Required Accounts section, the default required account numbers for the fund appear in the appropriate fields using the account masks defined in the General Ledger System File; verify the account numbers and make any changes if needed. See below for additional information for some of the fields listed in the Required Accounts section.
The account number entered in the Accounts Payable Cash Account field is the cash account to be credited when checks are written from this fund in Accounts Payable.
The account number entered in the Payroll Cash Account field is the cash account to be credited when checks are written from this fund in Payroll.
The account number entered in the General Ledger Cash Account field is the cash account to be used as the default cash account number when entering cash receipts for this fund in General Ledger.
The Accounts Receivable Cash Account field is only enabled for organizations that have licensed the Accounts Receivable module and operate it on a cash basis or accrual basis; the field is disabled for organizations not posting entries from Accounts Receivable to General Ledger. The account number entered in the Accounts Receivable Cash Account field, if applicable, is the cash account to be debited when payments for this fund are posted in Accounts Receivable.
The Accounts Receivable Account field is only enabled for organizations that have licensed the Accounts Receivable module and operate it on an accrual basis; the field is disabled for organizations operating the Accounts Receivable module on a cash basis or are not posting entries from Accounts Receivable to General Ledger.
The Purchase Orders Account and Less Purchase Orders Account fields are only enabled for organizations operating the Accounts Payable module on an accrual basis; the fields are disabled for organizations operating the Accounts Payable module on a cash basis as those accounts are not used in cash basis operations.
The Refund of Prior Years' Expenditures Account field is listed here, but is not a required account utilized by the system; therefore, a default does not appear in the Refund of Prior Years' Expenditures Account field as a mask is not defined for it in the General Ledger System File. If the account will be used (for example, with voiding a check or voiding an invoice), enter the correct account number in the field.
The Sales Tax Revenue Account field, which only appears for Kansas organizations, is listed here, but is not a required account utilized by the system; therefore, a default does not appear in the Sales Tax Revenue Account field as a mask is not defined for it in the General Ledger System File. If the account will be used (for example, with calculating sales tax for Activity Funds when entering cash receipts), enter the correct account number in the field; for more information, refer to the Sales Tax Setup Checklist for Kansas Activity Fund.
Enter the beginning date of the fiscal year to start tracking for the fund in the Fiscal Year Begin field. Use the mm/dd/yyyy format or click the down-arrow button to select the desired date.
Note: The beginning date must be the first day of a month.
Enter the ending date of the fiscal year for the fund in the Fiscal Year End field. Use the mm/dd/yyyy format or click the down-arrow button to select the desired date. The default ending date as based on a 12-month fiscal year will appear, but can be changed.
Click the Save button.
The Chart of Accounts screen will display for the first required account number; click the Save button to add the account number to the Chart of Accounts. Repeat this step until all the required accounts have been added.