Funding sources

Funding sources represent the locations of the funds used for pension or retirement payments. Funding sources can be a mutual fund, bank account, stock fund—anywhere your organization stores funds for these kinds of payments.

When you set up a funding source, you associate it with the General Ledger account that tracks the funds. As you create pension payments using a funding source, Payroll posts the wage expense to the General Ledger account you associate with the funding source.

You define a description for the funding source that prints on pension payments.

You can also assign an activity to the funding source for tracking in the Project Accounting application.

Time Records: pension payments