Building Fund-Balancing GL Details

Building the GL details for a financial event is a two-step process.

• First, the system generates the regular GL details for a financial transaction (FT). This is done regardless of whether corporate or fund accounting is used.
• Second, if fund accounting is activated (by turning on a switch on the Installation Record), the system analyzes the distribution code on each GL detail associated with the FT. If a fund is specified on a distribution code, the system checks the definition of the fund. If fund-balancing entries are specified on the fund, two additional GL entries are added to the FT:
• An offsetting entry to the Equity in Pooled Cash account is created for the departmental fund (e.g., if the FT is debiting a given fund, an offsetting credit is created in the funds EPC account).
• Another entry to the departments Liability account is created for the general fund.

The result is a consolidated set of GL entries for the FT, incorporating the regular entries as well as the fund-balancing entries.

The topics in this section illustrate the generation of the GL details for the earlier examples.