uManage has the capability to utilize various funds for the AP (Accounts Payable) account.
Setup
Before setting up the AP account to utilize different funds, please ensure that the General Ledger (GL) accounts with the respective funds are added to your Chart of Accounts. For step-by-step instructions on how to add it, refer to our help article HERE.
Navigate to Association GL Setup
- Go to Accounting > Financial > Association GL page.
Locate and Edit Association Record
- Click on the pencil icon next to the association to edit its record.
Configure AP Accounts
- On the Overview tab, in the bottom right corner, find the AP section.
- Select the appropriate AP accounts that reflect 'Reserve' and 'Other' funds from the drop-down menu.
Finalize Setup
- Click the Save button to confirm and finalize your setup.
How to Use
- To create an invoice, click HERE.
- When using different funds, ensure that the "Pay From Bank" field remains empty.
· Once transactions are created, the system will automatically select the fund from GL Expenses Distribution in the first row.
NOTE: To maintain consistency and avoid discrepancies, it is recommended to use the same funds for all GL entries in the Expenses Distribution related to a single invoice.
How to pay an invoice you can learn HERE.
NOTE For smoother fund management, pay the invoice from a bank account that uses the same fund as the AP GL account.