Defining FACTS Labels

Defining FACTS Labels

The Define FACTS Labels utility allows you to change the labels on the Reconcile tab in FACTS Reconciliation and the GL Accounts tab on the Pools supertab. These labels also appear on FACTS reconciliation reports and will flow into Journal Entries in General Ledger.

This utility also allows you to display the labels with or without GL Descriptions.

Note that later if the FACTS labels are changed, it does not affect GL from an accounting perspective, but does change descriptions.

1. In FACTS, select File Maintenance > Define FACTS Labels. The Define FACTS Labels window opens.

Define FACTS Labels Window

2. Enter the desired label(s) in each field.

• Note that for Disbursements, it is recommended to change the label to 'Transfers between accounts' to clearly delineate what that line is used for.

3. Click the arrow in the FACTS Label Options drop-down and choose the desired display option for the labels:

• Show FACTS Labels: Displays only the defined FACTS Labels with no GL Descriptions.
• Show FACTS Labels with GL Descriptions: Displays the defined FACTS Labels along with their associated GL Descriptions.
• Show GL Descriptions: Displays only the GL Descriptions, with no labels.

4. Click OK.