About funds (Public sector) [AX 2012]

Updated: February 23, 2011

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

A fund is a self-balancing set of financial books that is used to control and monitor the planned use of resources, often in compliance with legal and administrative requirements. Organizations use funds to demonstrate their fiscal accountability.

In Microsoft Dynamics AX, your organization can set up a system of funds that are grouped by the fund types that you create. Funds can be grouped also among three fund classes: Governmental, Proprietary, and Fiduciary. Many funds can be included in a single high-level report, but each fund remains a separate fiscal and accounting entity with its own general ledger, income statements, and balance sheet reports.

Each fund must have a unique fund number. In Microsoft Dynamics AX, fund numbers are used as dimension values in financial account numbers where a dimension has been mapped to a fund. When an account number is linked to a particular fund, it belongs to the set of financial books that are contained by that fund.

NoteNote

The Governmental Accounting Standards Board (GASB) recommends a set of Generally Accepted Accounting Principles (GAAP) for state and local governmental accounting. You can use these standards when you set up your own system of funds and fund types.

The following table shows examples of funds:

Fund number

Fund name

1103

General Fund (Federal)

1105

General Fund (Enterprise)

1343

School of Technology

1372

Information Technology

2501

Farmers Market

2541

Utilities Commission

2723

Courier Service

2738

Worker’s Compensation Fund

3320

Comprehensive Major Medical Plan

3324

Deferred Compensation

3912

Local Sales Tax Collections

3914

Clerk of Courts

The following table shows funds that are grouped by fund type:

Fund type

Fund number

Fund name

General Fund

1103

General Fund (Federal)

1105

General Fund (Enterprise)

Special Revenue Funds

1343

School of Technology

1372

Information Technology

Enterprise Funds

2501

Farmers Market

2541

Utilities Commission

Internal Service Funds

2723

Courier Service

2738

Worker’s Compensation Fund

Pension Trust Funds

3320

Comprehensive Major Medical Plan

3324

Deferred Compensation

Agency Funds

3912

Local Sales Tax Collections

3914

Clerk of Courts

The following table shows funds that are grouped by fund class:

Fund class

Fund type

Fund number

Fund name

Governmental

General Fund

1103

General Fund (Federal)

1105

General Fund (Enterprise)

Special Revenue Funds

1343

School of Technology

1372

Information Technology

Proprietary

Enterprise Funds

2501

Farmers Market

2541

Utilities Commission

Internal Service Funds

2723

Courier Service

2738

Worker’s Compensation Fund

Fiduciary

Pension Trust Funds

3320

Comprehensive Major Medical Plan

3324

Deferred Compensation

Agency Funds

3912

Local Sales Tax Collections

3914

Clerk of Courts


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