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If you have one of our development packages, you can use General Ledger Funds and Cost Centers to match your revenue to your accounting records.
General Ledger Funds help your accounting team track transactions as line items in your organization’s Chart of Accounts. When you create these, you should use your accounting team's labeling scheme to make it easier for you to match your transactions to their records.
Cost Centers help you track funds using more programmatic criteria. You can track transactions attributed to a particular department or specific project, like all transactions associated with membership activities or a particular affiliate's programs.
Both General Ledger Funds and Cost Centers can be added to the source codes you apply to contributions, recurring commitments, or pledges.
Creating a new General Ledger Fund
Open the General Ledger Funds list by searching in the Sidebar. If you do not see this in your search results, contact Support to make sure they are enabled for your organization.
Select Add New General Ledger Fund, and add a name and description. The fund name is limited to 30 characters.
When a General Ledger Fund is active, it can be added to any source code and is applied by default to financial entities, though it can be changed or added individually.
If a General Ledger Fund is no longer available for new contributions, you can set it to Inactive. You will no longer be able to apply it to your source codes, but it will still appear on the previous contributions and be available for searching and reporting.
Creating a new Cost Center
To add a new Cost Center, search Cost Center on the Sidebar. Cost Centers are an additional way to track fundraising and expenses within individual programs.
Select Add New Cost Center and enter the name and description. The name is limited to 30 characters.
When a Cost Center is active, it can be added to any source code. If a Cost Center is no longer available for contributions, you can set it to Inactive. You will no longer be able to apply it to your source codes, but it will still appear on existing contributions and be available for searching and reporting.
Applying General Ledger Funds and Cost Centers to Contributions
To match your contributions, recurring commitments, and pledges to your Chart of Accounts, associate the preferred General Ledger Fund and Cost Center to each contribution using source codes. Select the ones you need from the dropdown in the Additional Settings section of your source code details.
You can only change a source code’s General Ledger Fund or Cost Center if it has not been used for any contribution, pledge, or recurring commitment that is marked Posted.
Once a record has Posted to the General Ledger, you will not be able to change the contribution amount, source code, or payment method. Instead, changes can be made through Data Adjustment. This will ensure that your General Ledger tracks a complete record of the revenue being moved out of one fund and into another.
To perform a Data Adjustment, open the contribution you want to update. You will see the option to select Data Adjustment next to the date the contribution was posted to the ledger.
On the pop-up screen, you can add or delete Source Codes and change the attributed General Ledger Fund and Cost Center.
To review a summary of adjustments, enter General Ledger Adjustments Report in the search bar.
When you view the General Ledger Fund or Cost Center details page, you can see instances of when a General Ledger Fund has been used in your records.
Deleting General Ledger Funds and Cost Centers
You are only able to delete a General Ledger Fund or Cost Center if it has not been added to any source codes.
To see a summary of how many source codes your General Ledger Fund or Cost Center has been applied to, look at the bottom of the details page on the fund you wish to delete. You can open the details page by selecting the name of the fund from the list on the General Ledger Funds or Cost Centers list pages.
When a General Ledger Fund or Cost Center is no longer active and you no longer need to associate it with new contributions, you can mark it as inactive and switch associated source codes to Searchable Only. This prevents new contributions from being added to that General Ledger Fund or Cost Center, but you will still be able to use it for searching and reporting on past contributions.