How do I edit fund details?
This article explains how to edit details of funds such as the name, description and fund type.
In this article:
You can view and make changes to fund details on the Fund Settings screen.
On the Fund Settings screen, if you click on an existing fund, the Fund Details pop-up will appear, where you can make changes.
Changing fund names
To change the fund name, click on the fund and change the name in the pop-up.
Then click 'submit'.
This will also change the name of the fund in previous financial years. Therefore, we recommend that if you change the fund name, include the old name in brackets afterwards to show that it is the same fund with a different name.
Changing fund descriptions
To change the fund description, click on the fund and change the description in the pop-up.
Then click 'submit'.
Changing fund types
You can change the fund type if the financial year in which it was opened is unlocked.
If the fund existed prior to ExpensePlus and your opening balances are locked, or if the fund balance was opened in a year that has been locked, you will not be able to change the fund type without unlocking your financial years and, if needed, your opening balances.
Find out more here about fund accounting and different fund types.
You should not change the fund type of a fund that has been used in a financial year for which you have submitted year-end accounts, unless ExpensePlus does not match your already submitted year-end accounts.
Before changing a fund from restricted to unrestricted, we recommend speaking to your independent examiner or accountant.
Changing default payment account
You will have the option to set and change the default payment account only if you have chosen to prevent 'cross fund payment grouping'.
To learn more about this, see Configuring default payment settings.
If you have allowed 'cross fund payment grouping', you will not see the option to change the default payment account in the fund details pop-up.
Changing the 'opened at' date
If the fund was opened 'Prior to ExpensePlus' and therefore formed part of your opening balances, and your opening balances are locked, you will not have the option to change the 'opened at' date. You will first need to unlock your opening balances to give the fund an 'opened at' date.
You can change the 'opened at' date of a fund if the financial year in which it was opened is unlocked.
If the fund was opened in a year that has been locked, you will not be able to change the 'opened at' date without unlocking your financial years.
You should not change the 'opened at' date of a fund that has been used in a financial year for which you have submitted year-end accounts.
Changing if a fund is eligible for Gift Aid
Marking a fund as eligible for Gift Aid is a key factor in determining whether Gift Aid can be claimed on Donation income within ExpensePlus.
Typically, this option will be set to 'Eligible' for most Funds.
If you change this setting from 'Eligible' to 'Ineligible', future donation income reconciled to this fund will not be eligible for Gift Aid. Past donations will not be affected.
If you change this setting from 'Ineligible' to 'Eligible', past and future donation income reconciled to this fund will become eligible for Gift Aid.