General Ledger Setup for Revolving Fund

How do we setup the fund and accounts for a Revolving fund?

• Chart of Account Segments
• Account Master

Informational

For Revolving funds:

1. Fund needs to be flagged in MUNIS > General Ledger > Set up chart of accounts > Chart of Account Segments as Revolving Fund 
2. Revenue Account needs Reference Account assigned in MUNIS > General Ledger > Set up chart of accounts > Account Master. The Reference Account should be an Expense Account
3. Organization code available budget should be set to Org. MUNIS > General Ledger > Set up chart of accounts > Chart of account segments
4. When CRP, GBI, or GCR journals are posted to the current year for the Revenue Account, the system will create a BUA (budget amendment) on the Expense Account set in step 2.
5. When posting one of these journals to prior year period 13 on the revenue account MUNIS should will NOT creating the BUA portion of the journal. Budget cannot be posted to period 13, Work ticket MUN-146616 has been created to address this issue. If the BUA is created it can result in budget existing in Period 13 which will require corrections.

• Typically the Expense and Revenue account that are linked to each other under step #2 would have the same Organization code. 
• The reason for this is that the Revenue accounts Actual amount is essentially supposed to match the Expense account budget, which is the purpose of Revolving funds. 
• According to the functionality of Revolving funds if the Revenue actuals = the Expense Budget and the Organization code Calculate Available Budget is set to Org properly, MUNIS will calculate the available budget properly. Balancing can properly be done between the Expense and revenue account and MUNIS will display the proper overbudget warning when appropriate.
• Current year budget amounts may not exist within Period 13 when closing the current fiscal year
• Please see Posting a GCR journal to prior year period 13 on revolving revenue account is not creating the BUA line to the expense account for more information on work ticket MUN-146616.