Fund
AccountingCGI Advantage classifies your accounts into several categories, allowing different aspects of your financial information. These aspects are:
Fund accounting reflects measures concerning funds and general ledger accounts. It is the basic one of four elements that must be defined for fund accounting to work properly: Fund, Revenue, Object, and Balance Sheet Account. These four elements enable each fund of a government to have a self-balancing set of accounts sufficient to capture all the reported attributes of a portion of the government’s activities and resources. When all of the funds and their ledger accounts are summarized, a near complete picture of a government’s financial situation is produced.
Fund accounting elements answer these types of questions:
From what source?
To what source?
For what?
In what account?
CGI Advantage supports budget control and tracking among appropriation budgets, spending budgets, revenue budgets, cost accounting budgets, and other user-defined budgets. Most chart of accounts elements can be used to define a budget, even rollups. The only element and rollups that do not fit within any budget model are those for Balance Sheet Accounts. Most chart of account elements serve multiple functions, but Appropriation exists primarily to serve budgeting needs.
More information on the budget controlling can be found in the CGI Advantage - Budget Control User Guide.
The budget element answers these types of questions:
From what source of funding?
To what source of funding?
The assignment of funds, related expenditures, and revenues to organizational entities is essential if department heads are to be held responsible for planning and controlling those activities assigned to them.
An organizational structure can reflect the most vertical as well as the flattest organizational entity.
Department is the key point in any organizational entity as it is the primary point of security. It is also the point where measures above are known as the centralized organizational structure and with measures below are known as the decentralized organizational structure. Department is also a key to all the decentralized structure as well as many programmatic and all cost accounting measures.
As what entities are defined into the organizational elements can be those found on organization charts. What function an entity serves or where an entity is located, organizational elements answer these types of questions:
For whom?
On what?
CGI Advantage provides other elements for reporting and tracking transactions across different funds and organizations so that you can see how much has been collected or spent for a certain measure in total. The programmatic elements are Location, Activity, Function, Reporting, Department Object, Department Revenue, Task, and Task Order. These elements allow you to indicate details of your choosing about the transaction. They are a mix of system-wide and department-specific elements. Certain elements in this group can also serve purposes in Cost Accounting and vice versa.
Programmatic elements answer these types of questions:
For what?
where?
what were you doing?
Cost accounting is used to track accounting activity associated with special purposes such as grants, projects, and jobs. CGI Advantage can support the most complex federal grants, Federal Highway Administration (FHWA) billing, and projects, while having the flexibility to administer simple grants and projects.
More information on the various setup options on these elements can be found in the CGI Advantage - Cost Accounting User Guide
Cost accounting classifications answer these questions:
For what?
When?
For whom?
From what funding source?