Business Rules for General Ledger

Business rules help you customize standard procedures and requirements for your organization. These settings affect all users and are usually defined by your system admin.

For each section, select Edit, make your updates, then save.

Note: Changes made to General ledger Business rules do not always take effect immediately. If you encounter this, we recommend you give the system time to apply the changes.

Decide whether to exclude inactive accounts from searches and queries, then specify how to handle distributions that equal less than 100 percent of the distribution amount.

Specify fund details, including fund ID behavior and how to reference funds throughout Financial Edge NXT. When choosing, consider the following:

  • Do you want to automatically generate new fund IDs when you add new funds?

  • Do you want to allow editing of class restrictions on fund records? If you don't allow editing, the Statement of cash flows and Working capital schedule fields won't display when you add or edit an account.

  • Decide how you want to reference funds and fund balance accounts.

When choosing project settings, consider the following:

  • If you want to automatically generate new project IDs when you add new projects, what number do you want to start with?

  • Do you want to prevent data entry in the project ID field? Preventing data entry helps avoid duplicate project IDs.

  • Decide how you want to reference projects.

  • Do you want to automatically check for duplicates? This helps prevent duplicate projects.

  • Do you want to enforce account restrictions? You can select to enforce project account restrictions on all transactions, or only when processing an indirect cost allocation.

  • Do you want to allow project budget amounts to be set for selected project types?

When choosing budget management settings, consider how to proceed when account budget amounts increase or decrease.

Choose journal entry settings, including approval, interfund entry, and journal code preferences.

Choose transaction settings, including posting, journal code, and reversing transaction preferences.

Choose chart organizer settings, including template ID and advanced preferences.

When choosing grant settings, consider the following:

  • If you want to automatically generate new grant IDs when you add new grants, what number do you want to start with?

  • Do you want to prevent data entry in the grant ID field? Preventing data entry helps avoid duplicate grant IDs.

  • Decide how you want to reference grants.

  • Do you want to automatically check for duplicates? This helps prevent duplicate grants.