Set up fund types (Public sector)
Applies To: Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
Use this procedure to set up fund types that can be assigned to the funds that your organization creates.
Fund types are categories that you can use to group funds for detailed fiscal tracking and reporting.
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 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.
Set up fund types
Click General ledger > Setup > Fund > Fund types.
Click New to create a line for a new fund type.
In the Fund type field, enter a fund type, such as Capital.
In the Description field, enter a description for the fund type, such as Capital Projects.