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    Account Tab (FACTS)
    • 19 Jul 2023
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    Account Tab (FACTS)

    • Updated on 19 Jul 2023
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    Article summary

     

    You are here: Fund and Account Tracking System (FACTS) > Parts of the Screen – FACTS > Accounts Supertab (FACTS) > Account Tab (FACTS)

    Fund and Account Tracking System (FACTS)

    The Account tab contains the basic information for the Investment Account record, including the Account Code, Name, Account Number, and Contact information for the bank that holds the account. You can use this tab to create Investment Account records for each account in FACTS. You should also enter an Initial Balance record for each account when you create a new Pool.

    Refer to Creating Investment Account Records for more information.

    In FACTS, each Investment Manager or Custodian is considered an Investment Account. When you set up FACTS, you must create an Investment Account record for every custodian and the beginning balances for each Investment Account record. The total Market Value of the investments must equal the total of the Fund assets in the Pool.

    Account Tab Fields

    NOTE: In addition to these fields, checking accounts have Balance and Date Reconciled fields. However, these fields do not apply to Investment Accounts and have no impact on FACTS.

     

    Field

    Description

    Account Code

    		Required

    User-defined code (up to sixteen characters) that is used to identify the Investment Account.

    TIP: Consider using the actual account number assigned by the bank as the Account Code.

    NOTE: If you use the Autobuild FACTS Initial Fund Values utility to create the Investment Account record and the Pool is invested in a single custodian, the Account Code will be the same as the Pool ID.

    Class

    Text entry field (up to six characters) that you can use to enter the type of Investment Account (for example, Bond, Stock, MnyMkt, or Fixed).

    NOTE: You can subtotal the Consolidated Asset Allocation Report in General Ledger based on this field. Refer to Running the Consolidated Asset Allocation Report in the General Ledger module for more information.

    Name

    The name that is used to identify the Investment Account throughout FIMS.

    Address 1 -2

    The first and second lines of the bank or investment firm’s address.

    City, State, Zip

    The bank or investment firm’s city, state, (two letter abbreviation), and zip code.

    Contact

    The name of the primary contact person for the Investment Account at the bank or investment firm.

    Phone Number

    The telephone number of the primary contact person at the bank or investment firm.

    Account Tax ID

    The Tax ID number for the selected account.

    Pool

    		Required

    The unique code (up to six characters) that identifies the Pool where the Investment Account resides.

    Unitized

    		Required

    Checkbox that indicates whether the Investment Account is part of a FACTS Pool.

    NOTE: You must select this checkbox if the account is part of a Pool. If you clear it, no transactions will flow from General Ledger to FACTS.

    This checkbox should only be cleared for checking accounts that are not reconciled in FACTS.

    Initial Balance

    Use this button to create the accounts initial investment account balance record. Refer to Creating Investment Account Records for more information.

    Bank Account Number

    The actual account number assigned by the bank or investment firm.

    Custodian

    The name of the custodian.

    Date Opened

    The date when the account was opened.

    Date Closed

    The date when the account was closed.

    Leave this field blank if the account is open.

    NOTE: Closed accounts will not appear in the Reconciliation Data Grid.

    Check Routing Number

    The routing number for the bank, as you want it to appear on checks printed from this account.

    NOTE: This field is only available for checking accounts (and only if you print on blank check stock). It has no impact on FACTS processing.

    CheckInfo

    The check info number, as you want it to appear on checks printed from this account.

    NOTE: This field is only available for checking accounts (and only if you print on blank check stock). It has no impact on FACTS processing.

    Balance

    The total account balance for the selected account as of the Date Reconciled.

    NOTE: This field is only available for checking accounts. It has no impact on FACTS processing.

    Date Reconciled

    The date when the account was last reconciled.

    NOTE: This field is only available for checking accounts. It has no impact on FACTS processing.

     

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