Types of Funds
There are three types of fund records:
Ledger(s): top-level record; you can have a single ledger for the entire campus, or separate out ledgers for schools or departments to mirror your actual financial structure
Summary funds: used to group funds together for reporting purposes; if you are using a very simple fund structure, you do not need to have summary funds
Allocated funds: these records have money associated with them, and are the funds used for placing orders and paying invoices
Choosing a Fund Records Structure
Each campus can set up a financial structure that mirrors their local budget structure. The fund hierarchy should be as simple as possible to streamline ordering; additional information can be included in POLs using the order reporting codes.
Example 1: Budget is separated by schools or departments, then subject areas
Example 2: Fund structure is based on funding sources
Roles for Viewing and Working with Funds
To manage any fund record, you must have the following role:
To manage ledgers, you must have the following role:
Your role's scope may limit you to funds or ledgers available only to particular libraries. This is a configurable option.
To find fund records:
What's in a fund/ledger record?
With just a few clicks you can see a large number of related records within the Acquisitions infrastructure.
You can also do this sequence in reverse, starting with an invoice and following the funds path back up to the ledger. It's a convenient way to see the impact of any single purchase on a budget.
After the initial set-up or migration, adding additional ledgers and funds is straightforward. Make sure you have all the information you'll need to enter available to you before you begin.
Adding Allocated or Summary Funds to a Ledger