Name* | Enter the fund's name or description up to a maximum of 63 characters. |
Type* | This specifies the type of fund you're creating. You can choose any of the following Fund types: - Unrestricted - Funds with no restriction placed on how the money is spent
- Restricted - Funds where the income or donation is held for a specific purpose
- Endowment - Funds where income from a donation of money or an asset is held to generate long-term income
NOTE: There are no restrictions placed in Sage 50 Accounts over how you use a fund. The Fund Type is for reporting purposes only. |
N/C* | Enter a nominal code in the Capital & Reserves section in the Chart of accounts, to be associated with the fund. |
O/Balance | Enter any balance already held for your fund. |
Balance | This is the current balance of the fund and automatically calculates from the transactions posted to the fund. |
Contact | Use this to enter any contact name associated with the fund. |
Institution | Use this optional field to enter the name of the holding institution associated with the fund. |