Set Up Funds for Expense Processing
In the Create Master Fund panel and the Edit Master Fund/Sector panel, there are several expense related fields that impact expense processing. These fields determine whether you can do the following:
Book budgeted and variable expense payables against an offset account for expense payments.
Replicate expense accruals and cash settlements across primary and secondary accounting bases.
Process special types of waivers for the master fund.
To set up a fund for expense processing:
Do one of the following:
- In Portfolio Data Center, in the left navigation pane, click Portfolio Desk > Accounting Portfolio Setup > Mutual Funds > Create Master Fund.
- In Accounting Center, in the left navigation pane, click Setup > Portfolio Setup > Mutual Funds > Create Master Fund.
You see the Create Master Fund panel. If you previously created the fund, you can select the Edit Master Fund/Sector panel to change the options.Complete the Expense Fields group of options on the panel.
Complete the remaining options in the panel as needed.
Click Submit.
Create Master Fund Setup Panel - Expense FieldsÂ
The following are the expense related options in the Create Master Fund panel.
Option | Tag | Description |
---|---|---|
Expense Fields | ||
Expense Payment Offset Account | 12037 | Specifies the offset account to use for expense payments for budgeted and variable expenses. When you process expense settlements, the system reclassifies the expense payable to the specified account. You must specify a general ledger account to carry accruals forward for budgeted expenses and compare payments to preset tolerances. If you leave this field blank, the system offsets the budgeted and variable expense payments to cash. |
4952 | Determines whether to replicate expense accruals and cash settlements across accounting bases. Options include:
| |
Special Waiver Processing | 16642 | Identifies the special waiver processing method that the master fund uses. Options include:Â
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