Fund accounting for a county: fiscal years, commitments, interfund and grants
What changed for a government company that requires a fund on every line: July–June budgets, line accounts on AP and AR, a commitment that follows requisition to order to bill, payments and reversals by fund, Due to / Due from Other Funds, assets and depreciation by fund, grants expended, and the bank’s book side.
Each of these was found by running a county’s year end to end; each is now how the product posts.
Practical · 12 minutes · 6 steps · 3 questions
Walked over Journals (Accounting) — the behaviour is the same on all 1278 screens.
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