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User guide

Fund accounting in Engagement Manager

The Fund account structure in Engagement Manager organizes your fund data using the following hierarchy.
I. Category
II. Type
III. Fund
IV. Sub-Fund (optional unless mask specifies the sub-fund and then it is required)
  • Set up fund templates - It may be helpful to set up one or more fund templates with a pre-determined fund structure at the Setup level. This is especially useful if you are planning to work on several engagements that have the same fund structure, such as school districts in the same state. You can use a fund template to start an engagement, and customize the fund setup at the engagement level, if needed.
  • Set up an engagement using the fund structure - To add an engagement using the fund structure, select Fund from the Structure field in the Trial Balance section as you step through the engagement setup.
    If you have governmental or non-profit entities that use the fund accounting structure, using this structure instead of the None or Divisional structure may be beneficial. If you have a client that was set up with an account structure of None or Divisional, you can change the structure to Fund structure by applying the fund structure to the existing engagement.
    Before you change the account structure for any engagement, make sure you understand the consequences if your workpapers are already linked. You may need to relink them using the fund account structure after you make the change.
  • Define the hierarchy in the engagement - For engagements with a Fund structure, the Setup dropdown on the toolbar of the Trial Balance tab has a Funds option.
    You can define the hierarchy in the engagement. Add and edit fund data in the trial balance.
    Engagement Manager won’t force your chart of accounts to match this mask. However, all of your accounts must match this mask exactly for you to take advantage of Engagement Manager’s fund engagement features. For example, if your client provides a trial balance that has fewer characters than the mask, you will need to add characters (such as zeros) to use this structure the way it was intended.
  • Customize the trial balance view for the Fund structure - The Trial Balance view has columns available for the fund account structure: Fund Category, Fund Type, Fund Code, Subfund Code (if indicated in the chart of accounts mask), and Subfund Description. You can select these columns to customize the trial balance view to accommodate the Fund structure. You can also change the views based on Category, Type, or Fund.
    Engagement Manager doesn’t support rounding at the fund level.
  • Create a fund set - You can create a fund set in either the
    Setup
    ,
    Fund Templates
     area of the application or at the engagement level to combine data for separate funds. You can use fund sets in the account grouping report or a custom Excel report.
  • Additional fund engagement reports - The following additional reports are available in Engagement Manager for fund engagements: Account Grouping – Fund Set Report and Fund Balance Report.
  • Link a fund engagement - You can also link fund engagement data in Word and Excel using Engagement Manager Fund features. Select the
    Engagement Link
     on the Engagement Manager tab. This will allow you to use the Category, Type, or Funds with 1 additional filter, if desired.
    Currently, you can't link a fund set with an account grouping using the Engagement Link in Microsoft Word and Microsoft Excel.

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