The Fund Accounting Software module provides an alternative to manage responsibility grouping within the business not used as the GL Department, such as location, functional department or responsibility center. Or, it may be used, as its name implies, to track Funds by source and their usage. It provides standard financial accounting reports based on the Account and Fund information in the Accounting module. The reports available are similar to those in the General Ledger. Cash Flow and Change in Financial Condition Statements along with other required reports can be user defined with the AC Accounting Summary Report Generator.
This module is set up with the same Accounts, Fiscal Periods and reporting structure as the General Ledger. It uses the same records as the General Ledger except that it uses a Fund instead of the Department as the basis of its management reporting. However, at the “consolidated” level, the reports must be the same in each module. By entering a Fund code in your accounting entries, you are able to track the accounting data in an alternative dimension to that used in the General Ledger. This can be beneficial in a wide variety of management reporting, analysis and decision making.
This module integrates with all ABECAS™ Insight modules to provide an alternative set of financial accounting information for your company. The details are accumulated in the Accounting module from both internal and external sources. This includes the accounting information associated with every ABECAS™ Insight transaction whether from keyboard entries, imported data or handheld devices. Accounting details may also be updated from external sources. Journal entries made in the Accounting module for the General Ledger are similarly used for the Fund Accounting.