Applying the Fund structure to an engagement

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You can choose the Fund structure when creating a new engagement or you can apply the Fund structure to an existing engagement.

  1. Do one of the following.
    • To apply the Fund structure to a new engagement, follow the steps in Add engagement wizard, and choose Fund from the Structure drop-down list in the Accounts section.
    • To apply the Fund structure to an existing engagement, right-click the engagement in the navigation pane, choose Properties from the context menu, click the Trial Balance tab, and choose Fund from the Structure drop-down list in the Accounts section.
  2. Choose a fund template or apply the fund structure without an existing hierarchy.
    • To apply the Fund structure using one of your firm's fund templates, choose a template from the Fund Template drop-down list. AdvanceFlow populates the Mask field with the mask information defined in the template that you select and applies the associated fund hierarchy to the new engagement. 
    • To apply the Fund structure with no pre-populated fund data: Choose New from the Fund Template drop-down list and specify the mask in the Mask field to define the numbering system for associated accounts. After you create the engagement, you'll then need to build the fund hierarchy from within the Trial Balance tab.

      Note: Use F to designate a character for a fund; Use S to designate a character for a sub fund; Use C to designate an alpha or numeric core account character. For example, "FFFSCCCC".

Important information about changing Divisional engagements to Fund engagements

When you change the structure of an engagement from Divisional to Fund, AdvanceFlow deletes all division definitions in the engagement. Therefore, we recommend that you follow these steps prior to changing the account structure from Divisional to Fund.

  1. Thoroughly document the division definitions for the engagement for which you will update the structure.
  2. Update the engagement structure as outlined above.
  3. Use the documented division definitions to redefine the fund definitions in the updated engagement.

If you're changing the engagement structure from Divisional to Fund and you've linked engagement information to an Excel workpaper, you'll need to manually update any links to the corresponding funds after you apply the Fund structure.

Related topic: Overview of Fund accounting features

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