How do I close a fund?
Funds can only be closed at year-end, and only when:
- all balance sheet values on the fund have a zero balance (no cash, asset, creditor and debtor values)
- there are no unreconciled transactions relating to this fund.
A fund balance can be reduced to zero by completing a fund to fund transfer.
To close a fund
- Go to fund settings
- If the cross icon to the right of the fund shows in white, you can click on it and close the fund.
- If the cross icon is greyed out, hover over it to see why you cannot close the fund at this time. It may give the following reasons:
- The fund has one or more non-zero Balance Sheet values at today's date.
- The fund has transactions, investment or loan closures in the current financial year, and funds can only be closed at the end of a financial year.
Once you have closed a fund, you can view it by going to 'Manage Closed Funds'.
To help you better understand the Adjustments module as a whole, please visit the module overview page here.