Setup all accounts that may be used during the current school year (even if the account has a zero balance). Assign all accounts a number in the same format as the account template designated on the My Profile screen. All columns in the grid may be sorted by clicking on the headings.
Data Files, Account 
Field Name: Explanation
*Indicates Required Fields
*GL Account: Enter a new account number in the designated account format.
*Description: Account title. The name may be up to 30 characters.
Manager: Name of the person who is the sponsor or is responsible for this account.
*Clear at year-end: This field defaults as unchecked, meaning the balance will not clear during the year-end process. The year-end account balance will automatically “roll over” to the next year’s beginning balance. To clear certain account balances at year-end, designate one account as a Fund Balance account (account type is Fund Balance and the clear at year-end must be N). During the year-end procedure, the balance of any accounts checked for clear at year-end will automatically be transferred to the designated Fund Balance account.
Account Group: Choose a group for reporting purposes (optional).
*Account Type: There are several account types in SchoolFunds Online. The most commonly used account types are Asset, Net, and Fund Balance. These will be the only three to choose from if your district has chosen to hide the others. The available types are as follows:
Asset | Cash, savings/investment accounts, petty cash, and receivables |
Expense | Accounts from which expenditures are made. |
Restricted Exp. | Expense accounts where charges cannot exceed the account balances. (This account type is not functional at this time.) |
Fund Balance | Account that reflects the equity amount or balance of a fund |
Liability | Any payable or “debt” accounts. (This account type is not functional at this time.) |
Net | Accounts allowing both revenue and expense transactions |
Restricted Net | Net accounts where payments cannot exceed account balances. (This account type is not functional at this time.) |
Revenue | Accounts to which receipts are posted. |
Restricted Fund | Account balances “restricted” for specific purpose collected. |
Header | Accounts to which “revenue” and “expense” account balances roll up providing the balance of a fund. This type should only be used with corresponding Revenue and Expense accounts. |
*Account Status: The status of all accounts available for use should be active. Only an account that has a zero current balance and has had no activity during the current fiscal year can be made inactive.
*Beginning Year Balance: Enter the account’s beginning year balance and tab.
Budget: A budget amount may be entered for each individual account.
Summary Box: If you are setting up mid-year, enter any current Year-to-Date balances. Once entered, the system will maintain these amounts. Note: If you are beginning as of July 1, the Year-to-Date numbers will be zeroes. Do not enter any Month-to-Date, 1-Year-Ago, or 2-Years-Ago numbers, because the system will automatically calculate these as transactions are posted.
After completing the account screen, click Save New to add the account to the Account File.