Fund Accounting

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I am the finance controller for a water/sewer authority. Currently we have one set of books for both water and sewer. However, we are needing to actually use fund accounting, to where it breaks out the water and sewer separately. Does GP do fund accounting?

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babubaskaran@outloo... 12 on at

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Hi,

Dynamics GP doesn't have specific module to handle fund accounting. But you can do standard financial using GP Financial module.

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Jothi Krishnan N 1,895 on at

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I'm not sure but you might want to install "Grant Management" in GP and explore.

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babubaskaran@outloo... 12 on at

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Sorry Jothi I forgot about grand management I agree with you. Please enable grand management for your need.

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Heather Roggeveen 9,146 on at

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Hi

If I read this right, what you are after is the ability to manage to separate legal entities within one set of books and be able to print both Balance Sheet and Profit and Loss accounts for each entity.

If this is correct, then yes you can do that in Dynamics GP. There is a feature called Interfund Management that is part of the core. Tools --> Setup --> Financial --> Interfund Management.

You have the option of using it in a simple manner, with a single due to / due from account in each entity or in a slightly more complex manner where you have specific due to / due from accounts for each legal entity owing or owed to from another.

Once you activate this, it looks at every transaction that is processed in the database and if the fund segment is different (e.g. an invoice from a supplier relating to both water and sewer), it automatically creates a due to / due from transaction in the general ledger posting.

It works brilliantly and I have implemented it at two different sites now with two or three others that are interested in it.

I have found it works the very best if you don't share suppliers, customers or bank accounts between entities. Or if there is going to be sharing (i.e. a single bank account), then you nominate who the master will be and all other transactions for the other entity result in the due to / due from transaction.

It is best to activate it once you have balanced entities. However, if you have turned it on and find you need to do some fixes, you can simply untick the box, post any adjustments and retick it.

One site that I have operates about 15 legal entities in the same database and has never had an out of balance.

Hope this helps with what you are looking for.

Cheers

Heather

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Community Member on at

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Yes, I believe you are understanding what I need. I keep one operating cash account in g/l, but I need to keep up with how much cash is considered for water and how much is considered for sewer. I have made separate water expense accounts and sewer expense accounts for invoices.. Sometimes I have to split one invoice and code a percentage to water expense and remaining percent to sewer expense. And I have separated out my accounts payable as two separate, one water accounts payable and one sewer accounts payables. But when I actually pay these invoices, it only comes out of one cash account. I need to keep up with in/outs of water cash and sewer cash in the g/l separately. Also need to make sure it keeps up with the net position, separately as well.

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babubaskaran@outloo... 12 on at

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Hi Phipps,

You may consider using analytical accounting of Dynamics GP for this purpose. Please click here to have a look at Analytical accounting of GP.

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