Funds and Bank Accounts

SchoolFi supports multiple Accounts Payable bank accounts.  The district can indicate which bank account is to be used for specific funds.  For example, if you have Student Activities accounts in Fund 98, you could make the Student Activities bank account default to all Purchase Orders written to Fund 98.  Maybe you have Athletics accounts go to fund 99.  You could make the Athletics bank account default to all Purchase Orders written to Fund 99.  

There are two place you can assign funds to bank accounts.  One is the Financial > Setup > Dimensions > Funds screen.  The other is via the Financial > Setup > Bank Accounts > Properties screen.  

• You can link one bank account to each Fund
• You can link multiple Funds to the same bank account.
• Funds that have "parents" (11, 12, 13, 15, 81, 82, 83, 90, 95) default to using the bank account tied to their 'parent' Fund.
• Funds with no specified bank account use the "Default Accounts Payable" bank account specified on the Financial > Setup > Bank Accounts screen.

Example of adding a bank account to the Funds screen:

Click on the Properties button for the Fund to which you wish to add a bank account.  Use the Bank Account drop-down to select the appropriate bank account.

After adding the bank account:

Funds 11, 12, 13, and 15, which have Fund 10 as their parent, will also use "Td Bank NA (Accounts Payable)" as their account.

Example of adding a fund to a bank account:

Click on the Properties button for the bank account for which you wish to add default funds.

On the right side of the screen, click on the Add Fund button.