Set up funds (Public sector) [AX 2012]

Updated: March 2, 2011

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

Use this procedure to set up funds that can be linked to financial account dimensions.

Each fund must have a name and a unique number, and must be assigned a fund type, fund class, and other required attributes. Fund types must be created before you can set up funds. For more information about setting up fund types, see Set up fund types (Public sector). For more information about setting up a system of funds, see About funds (Public sector).

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.

Set up funds

  1. Click General ledger > Setup > Fund > Funds.

  2. Click New to create a line for a new fund.

  3. In the Fund number field, enter a unique number for the fund.

  4. In the Fund name field, enter a name for the fund.

  5. In the Fund type field, select a type for the fund.

  6. In the Fund class field, select a high-level classification for the fund.

    NoteNote

    The GAAP identifies eight fund types that are categorized under three fund classes:

    • Governmental funds include the general fund, special revenue funds, capital project funds, and debt service funds.

    • Proprietary, or business-type, funds include enterprise funds and internal service funds.

    • Fiduciary funds include trust funds and agency funds.

  7. If this fund is not used in financial reporting, select the Non-reporting fund check box.

  8. If this fund is reported as a major fund, select the Major fund check box.

  9. Optional: Select the Override selected year-end option to select a year-end close option for this fund.

    ImportantImportant

    Do this only if you want this fund to have different year-end processing rules than those used for other funds. If you do this, it will override any year-end processing options that have been selected for all funds in the Purchase order year-end process form.

  10. If you selected Override selected year-end option, select a year-end option for this fund from the list. For more information on year-end processing options, see Process purchase orders at year end.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

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