How do I set up a closing account for a fund?
Each fund needs a closing account (i.e.
fund balance or retained earnings) to close out its revenues and
expenditures. You an specify which account is the closing account for a
fund by following these steps:
1. Open Connect
General Ledger > Organization
> Chart of Accounts.
2. Click Edit (CTRL+E).
3. Click to select the field titled Account Number at the top, and then enter the account number and
press Enter.
4. Click to select the Account 2 tab.
5. Check the Set as the
closing account checkbox.
Your changes are saved for you.
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