We have a new fund and need to set up control accounts

We have a new fund and need to set up control accounts

How to set up control accounts

• Account Master

• Chart of Account

• Fund set up

• Control accounts

• A new fund was set up and requires the control accounts to be added

• Accounts are set up and named/labeled as control accounts on the fund but have not been designated as control accounts in the Control account field in Account Master. 

Setting up Control Accounts - 2017.1+

If Budgetary control is being used the Appropriation and Estimated Revenue control accounts are setup differently for Standard Annual funds, Multiyear funds that budget annually and Multiyear fund that do not budget annually

1. Standard Annual and Multiyear funds that budget annually

   1. Appropriation and Estimated Revenue control accounts Closing Balance = Zero

   2. Reference account = Budgetary Fund Balance Unreserved Control Account

2. Multiyear funds that does NOT budget annually

   1. Appropriation and Estimated Revenue control accounts Closing Balance = Carryforward

NOTE: Accounts are set up and named/labeled as control accounts on the fund but have not been designated as control accounts in the Control account field in Account Master. 

Update this field as needed use the attached Setting up control account document for assistance.