Fund Overview (v5.0)

Modified on Wed, 20 Sep 2023 at 09:35 AM

  

 

Purpose of this document

 

Food banks receive monies from many different sources, such as grants, donations, and endowments.  Sometimes restrictions are placed on these monies as to how and when they can be spent.   In these instances, food banks not only need to keep track of who the monies were received from, but if there are restrictions on how and when the monies are spent.

In Ceres, Fund was added to help food banks keep track of how and when the monies are spent.  Funds also allows the food bank to designate whether or not there are restrictions on the monies received, by setting up Funds such as unrestricted, temporarily restricted, permanently restricted.  

 

Food banks can also define business rules to require that a Fund be assigned to all transactions or only certain transactions or G/L Accounts to post.   By setting up Funds, the food bank can easily group entries with similar characteristics, so that this data can easily be retrieved for analysis and reporting purposes.  This functionality also overlaps with the Grants and the GL Dimension Self Balancing capabilities in Ceres.

 

This document illustrates how to setup Funds in order for the food bank to easily group entries with similar characteristics, so that this data can easily be retrieved for analysis and reporting purposes.  

 

Ceres Object release 5.00.00 is required for the functionality described in this document. 


 

 

Table of Contents

Creating Funds

 

The Fund setup is comprised of Funds, Fund Types, Fund Classes, and Fund Group.

 

1. Funds can be accessed from Departments à Financial Management à Setup à Funds à Lists

àFunds. 



2. Select a Fund from the List that displays. 


 

3. Click Home à New to create a new Fund.


4. Input values in the following fields.

 

 

Code:  A Unique identifier for the new Fund.

 

Description:  A brief description of the Fund.

 

Fund Type:  Identifies the Fund Type, select from a list of valid Types.

 

Fund Class:  Identifies the Fund Class, select from a list of valid Classes.

 

Fund Group:  Identifies the Fund Group, select from a list of valid Groups.

 

Self-balance Fund:  Indicates if the Fund is self-balancing.  See Self-Balancing Overview for details on how this field is utilized.

 

Excl. from Budget Enforcement:  Indicates if the Fund is excluded from Budget Enforcement.  See Budget Enforcement Overview for details on how this field is utilized. 

 

Budget Notification Group:  Indicated the Budget Notification Group for the Fund.  See Budget Enforcement Overview for details on how this field is utilized. 

 

5. Assign a default Dimension to the Fund if required.  Select Navigate à Funds à Dimensions. 

Select or input a value for.

 

 

Dimension Code: Select the Dimension Code you want to default when using this Fund.

 

Dimension Value Code: Select the default Dimension Value for this Fund.

 

Value Posting:  Select from the options as to how you would like the Dimension to post that is related to the Fund.  The options are Blank, Code Mandatory, No Code, or Same Code. 

 

6. Select OK to close the window.


7. You may assign Default Funds to specific master records such as Donors, Agencies, and

Vendors. Refer to other documents for specific instructions.


8. You may be required to select a Fund for various journal entries.  Refer to the documents for

the Journal of interest for specific instructions.

 

Creating Fund Types

  

1. Fund Types can be accessed from Departments à Financial Management à Setup à Funds à

Administration à Fund Types.



2. Click Home à New to create a new Fund Type.


3. Input values in the following fields.

 

 

Code:  A Unique identifier for the Fund Type.

 

Description:  A brief description of the Fund Type.

Creating Fund Classes

 

1. Fund Classes can be accessed from Departments à Financial Management à Setup à Funds

àAdministration à Fund Classes.


 


2.  Click Home à New to create a new Fund Class.


3. Input values in the following fields.


 

 

Code: A Unique identifier for the Fund Class.

 

Description:  A brief description of the Fund Class.
 

Creating Fund Groups

 

1. Fund Groups can be access from Departments à Financial Management à Setup à Funds à

Administration à Fund Groups.

 

2. Click Home à New to create a new Fund Group.


3. Input values in the following fields.

 

 

Code:  A Unique identifier for the Fund Group.

 

Description:  A brief description of the Fund Group.

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