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    FACTS Implementation Steps
    • 22 Apr 2024
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    Contents

    FACTS Implementation Steps

    • Updated on 22 Apr 2024
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    Article summary


    FACTS Implementation Steps

    Step

    Module

    Implement General Ledger, keeping in mind how you want to reflect your Pooled investments in FACTS and G/L.

    Refer to Implementing General Ledger for more information.

    General Ledger

    Create Fund records for each Fund participating in the Pool.

    Refer to Creating a Fund Record in the Fund Management module for more information.

    Fund Management

    Create a General Ledger Asset Account for each Fund participating in the Pool.

    This Pooled Asset Account tracks the Fund’s share in the Pool. You can optionally maintain two Asset Accounts – Book and Adjustment to Market – but most organizations find this unnecessary. Refer to Tracking the Book Value of Investments for more information.

    General Ledger

    Make sure that System Initial Setup options are set correctly.

    Refer to System Initial Setup – FACTS for more information.

    FACTS (System Initial Setup)

    Create a Pool record for each of your investment Pools and map the General Ledger accounts you want to use for allocations and distributions (GL Accounts tab).

    Refer to Creating Pool Records for more information.

    NOTE: You must enter the natural account number for the Pooled Asset Account before you can build the Pool, and you must map all of the allocation fields before posting the first Cycle.

    FACTS

    Create an Investment Account record and an Initial Balance record for each investment entity (each statement you receive).

    Refer to Creating Investment Account Records for more information.

    NOTE: Some organizations combine balances from two or more statements to simplify reconciliation in FACTS, although by doing so they are no longer tracking each account.

    FACTS

    Make sure that balances exist in each Pooled Asset Account in General Ledger as of the end of the prior period.

    NOTE: If you are implementing FACTS during the first period of a newly implemented General Ledger, you will need to use Beginning Balances. You can enter these balances via the Enter Opening General Ledger Balances utility. Refer to Entering Opening General Ledger Balances for more information.

    General Ledger

    Run the Autobuild FACTS Initial Fund Values utility.

    Refer to Autobuilding FACTS Initial Fund Values for more information.

    FACTS (File Maintenance)

    Enter Beginning Balances for each Investment Account.

    FACTS

    Run the Browse Initial Values utility.

    Refer to Browsing Initial Values for more information.

    FACTS

     

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