Creating a Zero Balance Pool

Creating a Zero Balance Pool

How do I make a new pool in FIMS?

If you are establishing a new Pool at the organization, you may need to create a zero balance Pool. You can create this Pool just as you would any Pool with established balances, via the Autobuild FACTS Initial Fund Values utility. Refer to Autobuilding FACTS Initial Fund Values for more information.

• Verify that the FACTS System Initial Setup options are set correctly. Refer to System Initial Setup – FACTS for more information.
• In General Ledger, do the following:

• Add an Account record to the Master Chart of Accounts to represent the assets in the new Pool.
• Use the Master Chart record and the G/L Account Mass Add/Delete utility in the General Ledger module to auto build the General Ledger Account for each Fund participating in the Pool.
• If applicable, create General Ledger Journal entries to represent the deposits or transfers to the new Pool.

• In FACTS, create a Pool record, keeping the following in mind:

• If you have setup General Ledger and entered and posted the initiating Transactions, make sure the new Asset Account from the Master Chart is mapped on the GL Accounts tab (Pools supertab). If you have not posted the initiating Transactions, you can build the Pool without mapping the Asset Account
• If you have more than one manager or Investment Account for the Pool, enter Account records and create zero balance Initial Balance records for them.

• Run the Autobuild FACTS Initial Fund Values utility. Refer to Autobuilding FACTS Initial Fund Values for more information.

• The Start Date can be any date on or before the date of the initiating Transaction.
• In the Build Balances as of Period field, enter the General Ledger Period prior to the period of the first Transactions. For example, if the first Transactions are on February 10 of a calendar-based fiscal year, the As Of Period would be 1.
• Select the Build Transactions from G/L Journal History checkbox and enter the Pool’s Start Date through (at least) the current date in the From and Through fields.
• (Optional) If you have a single manager for the Pool, select the Create Single Investment Account checkbox. The utility will automatically create an Account record and a zero market Initial Balance record. The Account code will be the same as the Pool ID code. If you want to use a different value, you will have to manually create the record.