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    Managing Funds and Ledgers

    Translatable
    To manage funds, you must have the following role:
    • Fund Manager
    • Fund-Ledger Viewer (view only)
    To manage ledgers, you must have the following role:
    • Ledger Manager
    • Fund-Ledger Viewer (view only)
    Your role's scope may limit you to funds or ledgers available only to particular libraries.
    A fund represents money in an account. A ledger is essentially a collection of funds. Ledgers are defined for a specific date range, such as September 1 of this year to August 31 of next year. You manage funds and ledgers from the Funds and Ledgers page (Acquisitions > Acquisitions Infrastructure > Funds and Ledgers).
    Funds and Ledgers Page
    The items in this page appear in a repository list; for information about configuring the list, see Repository Lists. The fields for each item (fund or ledger) on this page are as follows. See Fund Transaction Terminology for more information about fund and balance types.
    To transfer allocations between funds, see Managing Fund Allocation Transfer.

    Fund Transaction Terminology

    • A fund can be allocated or summary.
      • A summary fund is not used for ordering and invoicing, but provides aggregate reporting on subordinate funds. You can add other funds to this type of fund.
      • An allocated fund contains money that has been paid out or has been reserved for an open purchase.
    • A transaction can be an allocation, encumbrance, disencumbrance, or expenditure:
      • An allocation adds money to the fund, increasing its available balance.
      • An encumbrance indicates money that is expected to be paid out, as the result of a PO line. This decreases its available balance. The encumbrance is closed if there is an equal disencumbrance linked to the same PO line.
      • An expenditure subtracts money from the fund, decreasing its available balance. Adding an expenditure lined to a PO line increases the value of the disencumbrance linked to that PO line.
      • A disencumbrance is added or increased when adding an expenditure linked to the same PO line as an encumbrance. There is never more than one disencumbrance for any encumbrance. For example:
        • If a fund has a $100 encumbrance for a PO line. An invoice for $50 linked to that PO line is received. The encumbrance remains $100, an expenditure of $50 is added, and a disencumbrance of $50 is added.
        • After receiving another $50 invoice for the PO line, there are now two expenditures (each for $50), an encumbrance of $100, and a disencumbrance of $100. The encumbrance is now considered fully paid and is closed.
    • A fund's available balance is its allocated balance, less (encumbrances minus disencumbrances) and less expenditures.
    • A fund's cash balance is its allocated balance less expenditures.
    • A fund's allocated balance is its total allocation, not counting any expenditures or encumbrances/disencumbrances.
    • A fund's encumbered balance is the sum of its encumbrances minus disencumbrances.
    • A fund's expenditure balance is its the sum of its expenditures.

    Ledger and Fund Ownership and Availability

    A ledger is owned by either the institution or a library. Any funds added to the ledger are owned by the same entity that owns the ledger. If a fund is owned by a library, it is available only to that library. If a fund is owned by an institution, it can be made available to all libraries at the institution, a group of libraries at the institution, or a single library at the institution.
    When creating the ledger, you can set the ownership of the ledger to a library (the institution is selected by default). A user with a role with an institution scope can later change the ownership of a ledger from the library to the institution, but not the reverse (the user cannot change the ledger from being owned by the institution to now being owned by a library). Changing the ownership of the ledger changes the availability scope of the ledger and the ownership of all of its funds, but does not change the availability scope of the funds.
    When creating the ledger or fund, you can restrict the availability of the ledger or fund to one or more libraries within the institution. To view or manage a ledger or fund available to a particular library, a user must have the relevant role with a scope of institution or that library.
    A user with a role with an institution scope can change the availability of a ledger or fund to include more or less libraries. When you remove the availability of a ledger from one or more libraries, the associated funds are also made unavailable to these libraries. When you add availability to a ledger for one or more libraries, the funds remain unavailable to the libraries unless you add them as well.
    When transferring funds between ledgers, you can only move the fund to a ledger with the exact same availability as the one from which you are moving the fund.

    Exchange Rate Handling in Funds

    When a PO line creates an encumbrance in a currency that is different that the fund's currency, the available balance is calculated based on the exchange rate between the two currencies. The exchange rates and calculated values of open encumbrances in a foreign currency are recalculated weekly by the Recalculate PO Line Encumbrances Based on Current Exchange Rate job (see Viewing Scheduled Jobs). The exchange rate and exchange rate date of a disencumbrance are always the same as its related encumbrance.
    In the following example, a purchase is made in USD on Thursday, and the invoices are received on Sunday and Tuesday. The fund is in EUR and its available balance was 1,000 (one thousand) EUR before the purchase. The available balance is always its total allocation less (calculated encumbrances minus calculated disencumbrances) and less expenditures.
    Exchange Rate Recalculation Example
    Date Events Exchange Rate EUR/USD Encumbrance Expenditures Disencumbrance Available Balance
    Thursday A USD 100 PO Line is sent, to be paid from a EUR fund 0.91 Value: 100 USD
    Calculated: EUR 91
    Exchange Rate Date: Thursday
    Status: Open
    909 EUR:
    1000
    - 91 encumbrance
    Friday 0.92 Value: 100 USD
    Calculated: EUR 91
    Exchange Rate Date: Thursday
    Status: Open
    909 EUR:
    1000
    - 91 encumbrance
    Saturday The recalculation job runs 0.93 Value: 100 USD
    Calculated: EUR 93
    Exchange Rate Date: Saturday
    Status: Open
    907 EUR:
    1000
    - 93 encumbrance
    Sunday An invoice for $50 associated with this PO line arrives 0.94 Value: 100 USD
    Calculated: EUR 93
    Exchange Rate Date: Saturday
    Status: Open
    1: 47 EUR (50 USD based on Sunday's exchange rate date) Value: 50 USD
    Calculated: EUR 46.50 (50 USD calculated at 0.93 EUR)
    Exchange Rate Date: Saturday
    906.50 EUR:
    1000
    - (93 encumbrance - 46.50 disencumbrance)
    - 47 expenditure
    Monday 0.92 Value: 100 USD
    Calculated: EUR 93
    Exchange Rate Date: Saturday
    Status: Open
    1: 47 EUR Value: 50 USD
    Calculated: EUR 46.50 (50 USD calculated at 0.93 EUR)
    Exchange Rate Date: Saturday
    906.50 EUR:
    1000
    - (93 encumbrance - 46.50 disencumbrance)
    - 47 expenditure
    Tuesday An invoice for $50 associated with this PO line arrives
    The PO line is fully paid and the encumbrance is closed.
    0.90 Value: 100 USD
    Calculated: EUR 93
    Exchange Rate Date: Saturday
    Status: Closed
    1: 47 EUR
    2: 45 EUR (50 USD based on Tuesday's exchange rate date)
    Value: 100 USD (50 USD + 50 USD)
    Calculated: EUR 93 (50 USD calculated at 0.93 EUR + 50 USD calculated at 0.93 EUR)
    Exchange Rate Date: Saturday
    908 EUR:
    1000
    - (93 encumbrance - 93 disencumbrance)
    - 47 expenditure
    - 45 expenditure

    Adding a Ledger

    You add a ledger and then add funds to this ledger from the Funds and Ledgers page.
    To add a ledger:
    1. On the Funds and Ledgers page (Acquisitions > Acquisitions Infrastructure > Funds and Ledgers), click Add Ledger. The Summary Details page appears.
      Add Ledger - Summary Details
      To create a copy of a ledger, select Duplicate in the row actions list for the ledger on the Funds and Ledgers page. After copying the ledger, modify it as required.
    2. In the Summary tab, enter the name and code for the ledger (mandatory).
      The code is reused when you roll over the ledger to a new fiscal period, so don’t use a year-based code, such as MAIN LEDGER 2015. The name of the ledger can be changed when it is rolled over to a new fiscal year.
      The field’s limit is 255 characters.
    3. Configure the optional fields for the ledger in the General section.
      General Ledger Details
      Field Description
      External ID The ID that is used to link to other system keys.
      Owned by
      The owning institution or library.
      When changing this at a later time, you can change the ownership from a library to the institution, but you can not change the ownership from a library to another library or from the institution to a library.
      Available for The applicable libraries. Clear the institution's Include sub-unit check box and select one or more libraries from the list to restrict ledger transactions to the selected libraries, preventing the use of the funds in the ledger by other libraries.
      To select all libraries in the institution, select the institution’s Include sub-unit check box (first row).
      Description The ledger’s description.
      Status The ledger’s status:
      • Active – Operational in the system
      • Draft – Configured in the system but not yet operational
      • Inactive – Not operational in the system (after previously being active)
      Currency The default unit of currency for the ledger. To configure currencies, see Configuring Currencies.
      Fiscal period The financial year to which the ledger applies. Only Active fiscal periods appear in the list. To configure these options, see Configuring Fund and Ledger Fiscal Periods. Also, for more information on fiscal periods, see Fiscal Period Closure.
      Fiscal period dates The financial dates to which the ledger applies. For information, see Configuring Fund and Ledger Fiscal Periods.
    4. In the Reports section, select the type of report you want to display from the Display report field:
      • Fund Balance – Displays the previously labeled Balance report
      • Fund Burn Down – Displays the Fund Burn Down report configured in Alma Analytics
    5. In the Rules section, configure the fields associated with the policy behavior of encumbrances and expenditures for this ledger.
      Ledger Rules
      Field Description
      Overencumbrance allowed Whether the fund allows you to have more encumbrances than the fund's available balance (the allocated balance less any expenditures and encumbrances). The valid values are:
      • No
      • Yes – Alma checks the specified limit in the fund and performs a calculation against the fund’s amount. (If no limit is specified, the limit is assumed to be 0, which means that Yes will function like No.)
      • No Limits — Indicates that overencumbrances are allowed without limits. Alma does not check the specified limit or whether the fund has money.
      Overexpenditure allowed Whether the fund allows overexpenditures. The valid values are:
      • No
      • Yes
      • No Limits — indicates that overexpenditures are allowed without limits.
      Overencumbrance warning percent
      The percentage of allowed overencumbrances permitted before the system provides a warning.
      This is currently not functional.
      Overexpenditure warning sum
      The amount of overexpenditure before the system provides a warning.
      This is currently not functional.
      Overencumbrance limit percent The maximum percentage of allowed encumbrances permitted before the system blocks the creation of an encumbrance.
      Overexpenditure limit sum The amount of overexpenditure (checked against the allocated balance) before the system blocks the creation of an overexpenditure.
      Encumbrances prior to fiscal period (days) The number of days, prior to the fiscal period start date, that new encumbrances can be created
      If negative, you cannot create encumbrances during the specified number of days after the fiscal period start date.
      When working with accrual accounting, it is recommended to set this to 365 (or as early as required to enter the accrual invoices). See Working with Accrual Accounting.
      If a fund for the current period is active at the same time as a fund from the next fiscal period, the one from the next fiscal period is used if this value permits it. If you do not want encumbrances added to the fund from the next fiscal period while the fund from the current fiscal period is still active, set this to 0.
      Expenditures prior to fiscal period (days) The number of days, prior to the fiscal period start date, that new expenditures can be created.
      If negative, you cannot create expenditures during the specified number of days after the fiscal period start date.
      When working with accrual accounting, it is recommended to set this to 365 (or as early as required to enter the accrual invoices). See Working with Accrual Accounting.
      Transfers prior to fiscal period (days) The number of days, prior to the fiscal period start date, that new money transfers can be created
      If negative, money transfers are blocked during the specified number of days after the fiscal period start date.
      When working with accrual accounting, it is recommended to set this to 365 (or as early as required to enter the accrual invoices). See Working with Accrual Accounting.
      You can only transfer money between funds of the same fiscal period. For more information, see Managing Fund Allocation Transfer.
      Fiscal period end encumbrance grace period (days) The number of days, after the fiscal period end date, that new encumbrances can be created
      If negative, the system blocks new encumbrances during the specified number of days prior to the end of the fiscal period.
      Fiscal period end expenditure grace period (days) The number of days, after the fiscal period end date, that new expenditures can be created
      If negative, the system blocks new expenditures during the specified number of days prior to the end of the fiscal period.
    6. In the Funds tab, click Add Fund to add a fund to the ledger. For information, see Adding a Fund. This option is available only if you clicked Edit to edit an existing ledger.
    7. Click Save to store the ledger information that you entered and return to the Funds and Ledgers page.
      Exchange rate updates can cause Alma to recalculate encumbrances and expenditures.

    Editing a Ledger

    You can update the information entered for a ledger.
    To edit ledger information:
    1. On the Funds and Ledgers page (Acquisitions > Acquisitions Infrastructure > Funds and Ledgers), click Edit in the row actions list for the ledger whose information you want to update. The Summary Details Page appears. See Adding a Ledger.
    2. On the Summary Details page, edit the ledger information as required (note that the Code, Currency, and Fiscal Period fields are not editable). For information on this page, see Adding a Ledger.
      Changing the ownership of the ledger changes the availability scope of the ledger and the ownership of all of its funds, but does not change the availability scope of the funds. When you remove the availability of a ledge from one or more libraries, the associated funds are also made unavailable to these libraries. When you add availability to a ledger for one or more libraries, the funds remain unavailable to the libraries unless you add them as well.
    3. In the Funds tab, add, edit, duplicate, deactivate, or move funds as required. For information on adding funds, see Adding a Fund.
    4. In the Notes tab, add, update, or delete notes for the ledger. See Notes TabNotes Tab.
    5. In the Attachments tab, add, update, or delete attachments for the ledger. See Attachments TabAttachments Tab.
    6. To store your changes and deactivate the ledger, click Deactivate. To activate the ledger click Activate. Otherwise, to store your changes, click Save.

    Adding a Fund

    You can add a fund to a ledger or to a summary fund. You can add encumbrances to the fiscal period of a fund or ledger only if:
    • The fiscal period is Active
    • The date range of the fiscal period includes the current date
    Alternatively, you can add encumbrances to a fund’s fiscal period prior to or after the actual fiscal period, provided the relevant fields are configured in the Rules section of the Summary Details page (click Add Ledger). For details on the fields in the Rules section, see Adding a Ledger.
    To add a fund to a ledger or summary fund:
    1. On the Funds and Ledgers page (Acquisitions > Acquisitions Infrastructure > Funds and Ledgers), click Edit in the row actions list for the ledger or summary fund to which you want to add a fund.
    2. Click the Funds tab. The Funds List page appears.
      Funds List Page
    3. Click Add Fund and select either Allocated fund or Summary fund. The Summary Details page appears.
      Add Fund - Summary Details
      If you want to create a copy of a fund, click Duplicate in the row actions list for the fund you want to copy. Once you have copied the fund, you can modify it as needed.
    4. Enter the fund name and code (mandatory).
      The code is reused when you roll over the ledger to a new fiscal period, so don’t use a year-based code, such as MAIN FUND 2015. The name of the fund can be changed when it is rolled over to a new fiscal year. If you are working with accrual accounting (see Working With Accrual Accounting), do not change the name of the fund in the new fiscal period.
      The field’s limit is 255 characters.
    5. Optionally, enter an external ID for the fund that can be used to link to other system keys, and a description of the fund.
      Owned by, Path, Currency, Fiscal period, and Fiscal period dates are inherited from the ledger and cannot be modified. Available for is also inherited, but you can remove libraries to make it more restrictive in the next step.
    6. If the fund's parent ledger / summary fund was available to more than one library, select the libraries to which this fund is available in Available For. You can make the the fund's availability more restrictive than its parent.
    7. Optionally enter a fund type. To configure fund types, see Configuring Fund Types.
      To make this fund available to attach to resource sharing requests, the fund type must be Resource Sharing. See Borrowing Requests Associated with Funds.
    8. To override the rules set by the ledger, in the Rules area click Override Rules Information and then configure the fields associated with the policy behavior of encumbrances and expenditures for this fund. For an explanation of these fields, see Adding a Ledger.
    9. For a summary fund:
      1. In the Reports section, select the type of report you want to display from the Display report field, as follows:
        • Fund Balance – Displays the previously labeled Balance report.
        • Fund Burn Down – Displays the Fund Burn Down report configured in Alma Analytics.
      2. in the Funds tab, click Add Fund to add a fund to the ledger (starting with step 1 of this process).
    10. Click Save to store the fund information.
    After you have completely configured this fund, click Activate to activate the fund.
    Once the fund is saved, the Fund Code cannot be modified.

    Editing a Fund

    You can update the information entered for a fund.
    To edit fund information:
    1. On the Funds and Ledgers page (Acquisitions > Acquisitions Infrastructure > Funds and Ledgers), click Edit in the row actions list for the fund whose information you want to update.
    2. On the Summary Details page, edit the fund information, as required. For more information on this page, see Adding a Fund. Note that the fund’s code is not editable.
    3. For allocated funds, select the Transactions tab to perform transactions on the fund. For more information on transferring and allocating funds, see Performing Fund Transactions.
    4. In the Notes tab, add, update, or delete notes for the fund. See Notes TabNotes Tab.
    5. In the Attachments tab, add, update, or delete attachments for the fund. See Attachments TabAttachments Tab.
    6. To store your changes and deactivate the fund, click Deactivate. To activate the fund, click Activate. Otherwise, to store your changes, click Save.

    Activating and Deactivating Funds and Ledgers

    Before a fund can be used, it must activated.
    After you have allocated all necessary funds for a ledger, you must activate the ledger to use it.
    You can deactivate a fund or ledger that you currently do not need but may need at a later time. You also must deactivate a fund or ledger before it can be deleted (see Deleting Funds and Ledgers).
    To activate or deactivate funds and ledgers:
    On the Funds and Ledgers page (Acquisitions > Acquisitions Infrastructure > Funds and Ledgers), click Activate or Deactivate in the row actions list for the ledger or fund that you want to activate or deactivate.
    • You can also activate a fund while adding or editing it by selecting the Activate link on the Funds List page, or by clicking Activate in any of the fund’s tabs, after you have configured the fund. You can also activate a ledger while editing it by clicking Activate in any of the ledger’s tabs.
    • You can also deactivate a fund by selecting the Deactivate link on the Funds List page, or by clicking Deactivate in any of the fund’s tabs. You can also deactivate a ledger while editing it by clicking Deactivate in any of the ledger‘s tabs.
    • When deactivating a ledger or summary fund, you are prompted to deactivate the funds associated with the ledger or summary fund. All funds associated with a ledger or summary fund must be deactivated before the ledger or summary fund can be deactivated.

    Deleting Funds and Ledgers

    When a ledger or fund is no longer needed for a fiscal period, it can be deleted from the system. Note that the fund/ledger must be Inactive or Draft to be deleted.
    To delete a ledger or fund:
    On the Funds and Ledgers page (Acquisitions > Acquisitions Infrastructure > Funds and Ledgers), click Delete in the row actions list for a fund or ledger. If the fund (or funds associated with the ledger) has no associated transactions, encumbrances, or expenditures, it is deleted. If a ledger is deleted, all the funds associated with the ledger are also deleted.
    Alternatively, you can delete a fund/ledger while editing it by clicking Delete in any of the fund’s/ledger‘s tabs.

    Performing Fund Transactions

    Fund transactions are performed in the Transactions tab, accessible by clicking Edit in the row actions list for an allocated fund on the Funds and Ledgers page (Acquisitions > Acquisitions Infrastructure > Funds and Ledgers). The Transactions tab lists all of the transactions performed on an allocated fund.
    Transactions Page
    Transactions Page
    Transactions Tab
    In this tab, you can:
    • View details for a transaction
    • Allocate money to an allocated fund
    • Transfer money from one allocated fund to another. You can also transfer funds
    To reduce a fund’s allocation, you allocate money using a negative number.
    To view details for a transaction:
    In the Transactions tab, click View in the row actions list for a transaction. The Transaction Details page appears with details for the specified transaction.
    Transaction Details Page
    To allocate money to an allocated fund:
    1. In the Transactions tab, select Add Transaction > AllocationAllocate Funds. The Allocation Transaction page appears.
      Allocation Transaction Page
    2. Enter the allocation amount and fill in the following optional fields:
      • Transaction reference number – A number that may be used to reference a particular allocation to the fund
      • Transaction note – A description of the transaction
    3. Click Add Allocation Transaction and click Confirm in the confirmation dialog box.
    4. Click Save.
    To perform a transfer from one allocated fund to another:
    1. In the Transactions tab, select Add Transaction > Transfer Funds. The Funds Transfer page appears.
      The From fund field contains the value of the current fund, which cannot be changed.
    2. Continue as described in Transferring Money Between Allocated Funds, starting from step 2.