Funds Managment - account assignment 'FUND'

[Former Member]

Hello -

is it necessary to have 'FUND' as an account assignment activated when implementing Funds managment. As far as our business requirement is concerned Fund Center and Commiment Item seem sufficient . In anyway account assignment "FUND' ( if not defined) effects the functionality of BCS.

Thanks

Chris

[Former Member]

Hi Chris,

It depends on the country's legal requirements. In the US, public sectors have to meet GASB 34/35 accounting standard, which requires a set of financial statements by FUND.

As far as BCS concerns, without activating fund, all the activatities - namely budgeting and AVC will be by FC and CI, which means you also want to get rid of fund in the commitment / actual postings.

Regards,

Ming

[Former Member · Accepted solution]

Also don't forget to plan ahead and anticipate growth/change. In the future, your business requirements could change and you may be mandated by GASB standards which may require the use of funds as well as other master data for reporting purposes.

[Former Member]

Hi

Even our client does not want to use "FUND" account assignment.

Is there any way to hide this field??

Regards,

Purnima

[iklovski]

Hi,

Just do not activate this element in FM (IMG - Public Sector Management - Basic Settings - Activate Account Assignment Elements) + control the field status for the objects involved.

Regards,

Eli