Asset Accounting fund accounting
When a finance enterprise group implements fund accounting, a Fund Override check box will be displayed on the asset form. When selected, the Funds tab is displayed. You can create a record for each fund contributing to the assets purchase by specifying the contribution percentage for each fund. These percentages are used to allocate transactions created for the asset to each fund.
If Fund Override is not selected, the fund allocation can be specified at the asset item level. You can specify the contribution percentage of multiple funds for each item in the Funds panel.
These item level specifications are aggregated up to the asset level. Upon release, the contribution percentage of each fund is used to allocate the related transactions to each fund of the asset. The entire asset cost must be allocated prior to release whether allocating at the asset or asset item level.
The existing asset account and dimension group definitions are used to create the transactions. When an asset is subject to fund allocations these transactions are allocated using a calculation as it is released. The calculation multiplies the transaction amount of each transaction by the contribution percentage of each fund to identify the portion of the transaction to be posted to that fund. This amount is then assigned to a copy of the original transaction with that fund appended to the transactions code block.
If neither asset nor item allocations are assigned, the transactions will be processed without additional allocations. When fund accounting is enabled, the fund dimension is required by the default code block so the resulting transactions will post 100% to the fund specified in the default dimension group.
The interface processes from project and procurement systems create and
update the fund allocations based on the fund assigned to the transaction. The transaction is
then pushed into the asset system. Project capitalization is driven by selecting GLTransactionDetail records and using them to identify the value of
a resulting asset. Each transaction may contain a different fund. The transactions related to
each fund are grouped to identify the contribution percentage. The asset level allocation is
automatically created as the asset and asset item are created.
You can enable fund accounting by running the action for the finance enterprise group.
Asset Fund Control
The Asset Fund Control is a single form located on the Asset System Setup menu. This will be created automatically when Fund Accounting is enabled for the Finance Enterprise Group. The Fund Dimension will automatically be selected through a check box as it is created.
If you have already implemented fund accounting, you must manually create this record. You must also select the identified fund dimension in the finance enterprise group. Other dimensions may be added but when a dimension is selected it cannot be unselected, nor can the Asset Fund Control record be deleted.
If the finance enterprise group is changed to disable fund accounting, the existing fund allocations will no longer be performed, but if the funds are assigned to assets, the asset fund control record will be retained. This will allow the fund accounting flag to be again turned on to restart the fund allocation processing.
All transaction types will be displayed and a check box for each will allow the user to select those transactions to be allocated. No transactions will be selected initially so these must be considered when creating this record and even if the control record is created automatically, it must be updated so that the allocation is performed for the selected transaction types.
If an additional dimension is selected in the Asset Fund Control, that dimension will appear as available in the fund allocation but will not impact existing fund allocations.
If the fund allocation is changed to add a value to the new dimension, it will be incorporated in the allocation going forward.
These are the new lists incorporating the new dimensions:- AssetFund
- AssetItemFund
- AssetImportFund
- AssetItemImportFund
- AssetInterfaceFund