RE: [IUG] Changing Fund Codes

["Seeman, Corey" <cseeman at bus dot umich dot edu>]

Hi -- I agree with everything Mary said about changing funds and deleting them.  You definitely want to be careful with the funds, especially during the course of a fiscal year.  And while it is nice to add and subtract funds during fiscal close, but it is not always possible.  
 
This is your message - 
 
1.  We have some fund codes with open orders left from last year.
2.  They will be encumbered and paid from this years funds.

NOTE:  This implys that you are using Method One.  So the orders that you placed last year (and have not arrived) will just be paid from this year's funds.  Many libraries use this method and I think it is the easiest to run.  

3.  We want to change our fund codes to get rid of the regional focus. (long long story)

There are lots of things to consider when changing funds or changing how you use them.  The fund codes are in older records, as well as report heirarchies (or groupings) for the current year and previous year(s).  For good information on deleting fund codes, see the users manual Page # 100710.

Here is the question: Can we change the fund code on an order from the old to new funds and how do we do this?    Will it "mess up" the fund accounting?  I checked the archives and didn't see anything about it.   Is this easy?

ANSWER: You can change fund codes on order records after they are created and before they are received.  After they are paid, you should use adjust fund balances to move the expenses from one fund to another.  That is much less fun.  There are many reasons why you could change a fund code.  When the item arrives, it really belongs in a different fund.  When it was ordered, the wrong fund was used.  You could have developed a new fund structure and the order was placed with the old one.  etc.  If you only have a few order records that are outstanding, this can be very easy.  All you need to do is update the fund of the order record with the new fund codes.

You need to make sure that the new funds (if they are new) are included in the fund reports.  When funds are created, a common problem is caused when they are not added to the fund reports.  So they essentially do not show up in reports that give you the total expenditures. The best way to check this out is to make the changes and immediately do a posting to see that all the changes take place.  You may also take advantage of the Statistical Reports from Milstats to make sure that you have all the records moved over.  

One word of caution would be for partially received records.  If you have four ordered and three arrived.  It might be cleaner to cancel the order and attach a new order with the right fund code to the same bib.  Partial payments can tricky.

So like your getting rid of the regional focus on the funds, I have gone on and on...

Hope this is helpful.

Best -- Corey

 

 
Corey Seeman
Director
Kresge Business Administration Library
Ross School of Business
The University of Michigan
cseeman at umich dot edu
(734) 764-9969
(734) 717-9734 (cell)
(734) 764-3839 (fax)
 
Kresge Library Home Page: http://www.bus.umich.edu/kresgelibrary/ <http://www.bus.umich.edu/kresgelibrary/> 
My home page: http://www-personal.umich.edu/~cseeman/index.html <http://www-personal.umich.edu/~cseeman/index.html> 
 
 
 

________________________________

From: innopac-bounces at innopacusers dot org on behalf of Strouse, Mary
Sent: Thu 1/4/2007 5:50 PM
To: IUG INNOPAC List
Subject: RE: [IUG] Changing Fund Codes



The rule we've always followed is that you can safely change either a
vendor code or a fund code any time after fiscal close and before
posting new payments or credits to that order record for the current
fiscal year. 

Once you have posted payments to that order record for the current
fiscal year, the safest course is to start a new order record with the
new fund/vendor and, if necessary, unpost payments and repost them on
the new record, instead of switching funds. 

I don't know exactly why this matters, but it's advice passed down from
III staff sometime in pre-history and the one time we didn't follow it,
our reports wouldn't match up.

The fiscal close method you use may make a big difference. We use Method
one - a single set of codes at a time - and carry over encumbrances from
the previous year.

Mary
Mary M. Strouse
Head of Technical Services
Judge Kathryn J. DuFour Law Library
Catholic University of America
(202) 319-5547
(202) 319-4447 FAX
http://library.law.cua.edu

-----Original Message-----
From: innopac-bounces at innopacusers dot org
[mailto:innopac-bounces at innopacusers dot org] On Behalf Of Anderson, Ann E
Sent: Thursday, January 04, 2007 4:34 PM
To: innopac at innopacusers dot org
Subject: [IUG] Changing Fund Codes

Good Day,

It is snowing, raining, sunny and foggy today and that is how I feel
about Acquisitions.  I find it messy    Here is our situation:

1.  We have some fund codes with open orders left from last year.
2.  They will be encumbered and paid from this years funds.
3.  We want to change our fund codes to get rid of the regional focus.
(long long story)

Can we change the fund code on an order from the old to new funds and
how do we do this?    Will it "mess up" the fund accounting?  I checked
the archives and didn't see anything about it.   Is this easy?

TIA

Ann

Ann E. Anderson
Library Database Administrator
The Boeing Company
White Salmon, WA
509-493-2162


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