Funding Sources

Funding sources allow you to specify the sources that contribute monies to your fund(s). You can create as few or as many funding sources as you need. These can be used to track exact amounts for accounts in your general ledger. You can then use funds to track spending and purchases for specific collections.

Create a funding source

  1. To create a new funding source, click Administration → Server Administration → Acquisitions → Funding Source.
  2. Enter a funding source name. No limits exist on the number of characters that can be entered in this field.
  3. Select an owner from the drop-down menu. The owner indicates the organizational unit(s) whose staff can use this funding source. This menu is populated with the shortnames that you created for your libraries in the organizational units tree (See Administration → Server Administration → Organizational Units).

    Note

    The rule of parental inheritance applies to this list. For example, if a system is made the owner of a funding source, then users with appropriate permissions at the branches within the system could also use the funding source.

  4. Create a code for the source. No limits exist on the number of characters that can be entered in this field.
  5. Select a currency from the drop-down menu. This menu is populated from the choices in the Currency Types interface.
  6. Click Save.

Allocate credits to funding sources

  1. Apply a credit to this funding source.
  2. Enter the amount of money that the funding source contributes to the organization. Funding sources are not tied to fiscal or calendar years, so you can continue to add money to the same funding source over multiple years, e.g. County Funding. Alternatively, you can name funding sources by year, e.g. County Funding 2010 and County Funding 2011, and apply credits each year to the matching source.
  3. To apply a credit, click on the hyperlinked name of the funding source. The Funding Source Details will appear.
  4. Click Apply Credit.
  5. Enter an amount to apply to this funding source.
  6. Enter a note. This field is optional.
  7. Click Apply.

Allocate credits to funds

If you have already set up your funds, then you can then click the Allocate to Fund button to apply credits from the funding sources to the funds. If you have not yet set up your funds, or you need to add a new one, you can allocate credits to funds from the funds interface. See section 1.2 for more information.

  1. To allocate credits to funds, click Allocate to Fund.
  2. Enter the amount that you want to allocate.
  3. Enter a note. This field is optional.
  4. Click Apply.

Track debits and credits

You can track credits to and allocations from each funding source. These amounts are updated when credits and allocations are made in the Funding Source Details. Access the Funding Source Details by clicking on the hyperlinked name of the Funding Source.