The Fund Accounting System will choose the Default Cash Account if one is not chosen/configured.
FAS will decide on a cash account by following this order:
1st:
“Use a Specific Cash Account When…”
To Use a Specific Cash Account:
- Go to Chart of Accounts on the top menu. Select Manage Accounts.
- Choose an account by double clicking on it.
- Choose Advanced Options.
- Check off the Use Specific Cash Account when this account is on a PO/Receipt box.
- Enter, or browse for, the Specific Cash Account.
- Click Save.
2nd:
“The Default Cash Account for a Fund Account.”
To set a Default Cash Account for a Fund:
- Go to Chart of Accounts on the top menu. Select Manage Accounts.
- Choose an account by clicking on it ONLY ONCE (to highlight it).
- Click Edit Fund Settings.
- Enter the Default Cash Account or browse for it by clicking the question mark. The additional options will become available once an account is chosen.
- Enter the Default Receipts Cash Account (optional) or browse for it clicking the question mark.
- If the Default Receipts Cash Account is not entered, the Default Cash Account will be used.
3rd (Last):
“No Default Cash Account Chosen.”
If NO Default Cash Account is chosen/elected in ANY of the prior options, the system will use the FIRST Cash Account it finds in the Chart of Accounts.
You can check your default cash account per Fund by clicking “Edit Fund Settings”