Basic General Ledger Concepts

Basic General Ledger Concepts

The FIMS General Ledger is generally used at the Fund level, rather than the organizational level, which results in each Fund having its own balanced General Ledger.

FIMS uses Fund Class codes to categorize your Funds and assign a similar set of General Ledger Accounts to each Fund in a particular class. The set of General Ledger accounts that a Fund Class needs is called the Master Chart for that class. It is important to distinguish the Master Chart, which is the template on which the G/L is based, from the Chart of Accounts, which is a listing of the actual General Ledger Accounts.

Refer to the following sections for more information on these concepts.