To allow non-profit organizations and government agencies to manage and track cash balances in several funds, ACTIVENet now supports Multi-fund Accounting. By breaking up an organization’s financial structure into multiple funds, Multi-fund Accounting enables organizations to separately track their designated revenues and associated expenses within each fund and provide transparency for external audiences.
By default, Multi-fund Accounting is disabled. If Multi-fund Accounting is disabled in your organization, then this Fund Name page and the Fund Name field on other pages are not displayed.
To enable Multi-fund Accounting for your organization, please contact your ACTIVENet Account Manager.
Note that if Multi-fund Accounting is enabled, then the Fee splits section is hidden and splitting a charge between different GL accounts is no longer allowed. Before enabling this feature, please ensure that fee split configurations have been removed.
To configure Multi-fund Accounting in your organization, refer to the following workflow:
Create multiple funds as required.
For each fund, create the required system GL accounts and non-system GL accounts, then associate each GL account with the fund.
For each fund, create a system account package, and then under the package select system accounts created in step 2.
Associate each financial item with a GL account and a system account package.
For example, to configure two funds in the system:
Create Fund A and Fund B.
Refer to the table below to create system GL accounts for each fund.
| System GL accounts | Default | Fund A | Fund B |
| Payment Account: Cash | Payment Cash | Payment Cash - A | Payment Cash - B |
| Payment Account: Checks | Payment Checks | Payment Checks - A | Payment Checks - B |
| Payment Account: Credit Cards | Payment Credit Cards | Payment Credit Cards - A | Payment Credit Cards - B |
| Payment Account: Debit Cards | Payment Debit Cards | Payment Debit Cards - A | Payment Debit Cards - B |
| Payment Account: Credit Memos | Payment Credit Memos | Payment Credit Memos - A | Payment Credit Memos - B |
| Payment Account: ECP | Payment ECP | Payment ECP - A | Payment ECP - B |
| Deferred Revenue Account | Deferred Revenue | Deferred Revenue - A | Deferred Revenue - B |
| Customer Balance Account (A/R) | A/R | A/R - A | A/R - B |
| Customer Balance Account (Future A/R) | Future A/R | Future A/R - A | Future A/R - B |
| Customer Balance Account (Deferred A/R) | Deferred A/R | Deferred A/R - A | Deferred A/R - B |
| Refund Clearing Account | Refund Clearing | Refund Clearing - A | Refund Clearing - B |
Note that the following two system GL accounts are used by all funds and cannot be associated with any system account packages. Please leave the Fund Name field of these two system GL accounts blank.
| System GL accounts | Default | Fund A | Fund B |
| System: Convenience Fees | Convenience Fees | Convenience Fees | Convenience Fees |
| System: Customer Credit (A/P) | Customer Credit (A/P) | Customer Credit (A/P) | Customer Credit (A/P) |
Create non-system GL accounts for different financial items as required:
| Non-system GL accounts | Fund A | Fund B |
| Revenue Account - Charge | Revenue Charge - A | Revenue Charge - B |
| Revenue Account - Discount | Revenue Discount - A | Revenue Discount - B |
| Revenue Account - Scholarship | Revenue Scholarship - A | Revenue Scholarship - B |
| Revenue Account - Coupon | Revenue Coupon - A | Revenue Coupon - B |
| Revenue Account - Refund Charge | Revenue Refund - A | Revenue Refund - B |
| Revenue Account - Product | Revenue Product - A | Revenue Product - B |
| Revenue Account - Usage Fee | Revenue Usage Fee - A | Revenue Usage - B |
| Revenue Account - Usage Fee Discount | Revenue Usage Fee Discount - A | Revenue Usage Discount - B |
| Revenue Account - Additional Charge | Revenue Additional Charge - A | Revenue Additional Charge - B |
| Revenue Account - Activity Processing Fee | Revenue Activity Processing Fee - A | Revenue Activity Processing Fee - B |
| Revenue Account - Interest Charge | Revenue Interest - A | Revenue Interest - B |
| Revenue Account - Late Fee | Revenue Late Fee - A | Revenue Late Fee - B |
| Revenue Account - Def Expense | Revenue Def Expense - A | Revenue Def Expense - B |
Create system account package A, then associate the package with Fund A and under the package, select the system GL accounts created in step 2.
Repeat this step for system account package B.
Associate a financial item with a non-system GL account for Fund A and system account package A.
Repeat this step for all financial items.
Note:
For accounting purposes, the fund associated with a GL account must be the same as the fund associated with the system account package, otherwise an error message is displayed.
To create a new fund:
Log into the ACTIVENet AUI using an account which is associated with a system user profile with full access for the Administration: Financial - Fund Names permission.
On the new Administration Home > Financial Settings > Fund Names page, click Add New and enter the new fund name.
In the following locations:
Administration Home > Financial Settings > GL Accounts page
Administration Home > Locations > Sites page > GL Account List section
to associate an GL account with a fund:
In the non-system account or system account list, select an existing GL account or create a new GL account.
Click the Fund Name dropdown and select the required fund.
In the Administration Home > Financial Settings > System Account Packages page > select an existing system account package or create a new system account package > General Information section, click the Fund Name dropdown and select a required fund.
To best utilize Multi-fund Accounting in your organization, associate each financial item (charge, discount, surcharge, coupon, scholarship, refund charge, transfer charge, usage fee, charge matrix, etc.) with a GL account and a system account package so that all GL postings can be tracked by fund.
Open the required financial item and under the Fee Information section, select the required GL account and system account package.
Adding or modifying a GL account
Return to Financial Settings Help