Year End Close With Multiple Funds
When performing a year end close, you can specify where the net earnings should be allocated to:
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In the
Engagement > Year End Close and Roll Forward dialog, check off the
Updates next year’s opening balance data with checkbox
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Select the
Multiple button next to the
R/E Account Number field to enter the fund equity account numbers.
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There are two scenarios that can occur:
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Funds were created as entities using the consolidation feature in Caseware.
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Funds are allocated to GL accounts and no fund structure exists. This means that the total net income (earnings) should be manually allocated between each fund.