Follow

How to Manage General Ledger Funds Ledgers and Accounts

MANAGING FUNDS
Pontem’s General Ledger software contains a pre-created Fund list that complies with government guidelines, allowing you to quickly use integrated information with speed and increased accuracy.


How to View a List of Funds
1. At the ‘Overview Page’ click on ‘Manage Funds; or press F9 on the keyboard.
2. The ‘Detail View’ (which is the default view of the ‘Manage Funds’ window) will appear.
3. To display a list of existing funds and descriptions, click on the ’Funds’ display bar.

4. Use the scroll bar to the right of the list to scroll through the list of existing funds. Double- click on any fund to display the detail for that fund.

How to Create a New Fund
1. At the ‘Overview Page’ click on ‘Manage Funds’ or press F9 on the keyboard.
2. Click on the ’New’ button and the form will display a blank entry screen.
3. Enter a unique ‘Fund Code’ consisting of three characters.

4. Enter a ‘Description’ that indicates the purpose of the fund.

5. Enter or choose from the drop-down list a ‘Fund Equity Activity Code.’ A fund equity activity code guides the program as to where to “close” revenues and expenditures/expenses at the end of the fiscal year.

NOTE: It is recommended that you consult your state’s chart of accounts to identify the Category and Type for the fund.

6. Choose a valid ‘Category’ from the drop-down list.

7. Choose the appropriate ‘Fiscal Year’ for this fund. Pontem’s General Ledger software will allow you to maintain and use funds having different fiscal years.

8. Choose whether this fund will be for a Component Unit by clicking on either the ‘Yes’ or ‘No’ radio button.

NOTE: A Component Unit is an entity that is substantially independent of the main unit of government. It is likely to have its own board or commission, likely to set its own budget, and is likely to have funding sources that are distinct from those of the main unit. The Component Unit is also likely to do its own accounting. (A country road commission is one example). If you are unsure of how to answer this question consult an accountant or auditor.

9. Click the ’Save’ button to create the new fund.

 

How to Change a Fund
Pontem’s General Ledger software allows you to change information for funds, although the information in the ‘Fund Equity Activity Code’, ‘Fund Equity Account Code’, ‘Category’ and ‘Type’ fields are normally defined by your state’s chart of accounts and therefore seldom change.

1. To change a fund, at the ‘Overview Page’ click on ‘Manage Funds’ or press F9 on the keyboard.

2. Click on the ’‘Edit’ button.

3. Make changes to the name of a fund by changing the text in the ‘Description’ field.

4. You may also make a change to the classification of ‘Component Unit.’

5. After all changes have been made click on the ’Save’ button to save changes to the fund.


MANAGING DEPARTMENTS
Pontem’s General Ledger software contains a pre-created Department list that complies with government guidelines. You can perform necessary maintenance by creating new, and changing existing, departments.

How to View a List of Departments
1. At the ‘Overview Page’ click on ‘Manage Departments’ or press F10 on the keyboard.

2. The ‘Detail View’ (which is the default view of the ‘Manage Departments’ window) will appear.

3. To display a list of existing departments and descriptions, click on the ‘Departments’ display bar:

4. Use the scroll bar to the right of the list to scroll through the list of existing departments.

5. Double-click on any ‘Department’ to display the detail for that department.


How to Create a New Department
1. At the ‘Overview Page’ click on ‘Manage Departments’ or press F10 on the keyboard.

2. Click the ’New’ button.

3. Enter a unique three-character ‘Department Code.’

NOTE: It’s recommended that you consult your state’s chart of accounts for the appropriate code.

4. Enter a ‘Description’ that indicates the purpose of the fund.

5. Enter ‘Function Code’ or choose one from the drop-down list.

6. Click the ’Save’ button to create the new department.

 

How to Change a Department
1. At the ‘Overview Page’ click ‘Manage Departments’ or press F10 on the keyboard.

2. Click on the ’Edit’ button.

3. Make changes to the department ‘Description. ‘

4. To make changes to the ‘Function Code’ either enter the appropriate number of pick one from the drop-down list.

NOTE: It is recommended that you consult your state’s chart of accounts for the appropriate ‘Function Code’.

5. Click on the ‘Save’ button to save changes.


MANAGING ACCOUNTS
Pontem’s General Ledger software contains a pre-created Accounts list that complies with government guidelines. You may make changes to existing accounts, or create new accounts as needed.


How to View a List of Accounts
1. At the ‘Overview Page’ click on ‘Manage Accounts’ or press F11 on the keyboard.

2. The ‘Detail View’ (which is the default of the ‘Manage Accounts’ window) will appear.

3. To display a list of existing accounts and descriptions, click on the ‘Accounts’ display bar:

4. Use the scroll bar to the right of the list to scroll through the list of existing accounts. Double-click on any account to display the detail for that account.

How to Create a New Account
1. At the ‘Overview Page’ click ‘Manage Accounts’ or press F11 on the keyboard.

2. Click on the ’New’ button and a blank entry form will appear.

3. Enter a unique ‘Account Code’ consisting of three characters.

4. Enter a ‘Description’ which indicates the purpose of the account.

5. Enter a ‘Type Code’ or choose one from the drop-down list which identifies the nature of the account.

NOTE: It’s recommended you consult your auditor to ensure proper classification of
accounts.

6. Enter a ‘Restriction Code’ or choose one from the drop-down list.

NOTE: It’s recommended you consult your auditor to ensure proper classification of
accounts.

7. Enter a ‘GASB Type’ or choose one from the drop-down list. This information is used to assist in the formatting of reports, particularly the Comprehensive Annual Reports required by GASB-34.

NOTE: It’s recommended you consult your auditor to ensure proper classification of
accounts.

8. Click on to choose a ‘Normal Balance’ for the account.

9. Click the ’Save’ button to save changes made to the account.

How to Change an Account
Pontem’s General Ledger software allows users to change information for accounts. It is recommended you consult your state chart of accounts prior to making any changes.

1. At the ‘Overview Page’ click on ‘Manage Accounts’ or press F11 on the keyboard.

2. Click the ’Edit’ button.

3. Make changes to the name of an account by changing the text in the description field.

NOTE: You can also change the ‘Type’, ‘Restriction,’ ‘GASB-type’ and ‘Normal Balance’ of an account.

4. After all changes have been made, click the ’Save’ button to save changes to the account.

NOTE: For a printable master list of Funds, Departments or Accounts, click on ‘Reports’ at the ‘Menu Bar‘ and ‘Chart of Accounts Maintenance’. Select the appropriate master list for printing and click ‘OK.’

 

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.
Powered by Zendesk