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Funds Managment - account assignment 'FUND'

Former Member
0 Kudos

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

1 ACCEPTED SOLUTION

Former Member
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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.

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4 REPLIES 4

Former Member
0 Kudos

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
0 Kudos

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.

0 Kudos

Hi

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

Is there any way to hide this field??

Regards,

Purnima

0 Kudos

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