GL Structures

Megan Kotze

We are in the process of implementing Financial Edge for a relatively new private foundation. We are starting completely from scratch and have no legacy data to deal with. For anyone currently using Financial Edge and/or Raiser's Edge, I am looking for examples of how you have set up your GL structure. And if you could do it over again, would you do anything differently?

Diana Gray

@Megan Kotze
Hi Megan, Our Organization has completed a conversion to FE NXT. A restructuring of GL structure is newly underway so I will be interested in seeing responses to your post.! I am the RE database manager so I am mainly interested in this subject from that perspective.

JoAnn Strommen

@Megan Kotze Welcome to the BB Community forums.

I think the most important thing is creating a logical, organized GL structure. I'm sure there are guidelines for that. Use your account #s to clarify account types.
For us that is endowments, scholarships, student organizations, etc. Each type of account has it's own first two digits. I don't work in FE but I know when I ask a question, the accounting staff references the type of account just by my giving them the digits.

Linking GL / FE accounts to RE funds is secondary to having an accounting system that your accounting staff and auditors will find easy to use/follow, IMO.

JoAnn Strommen

@Megan Kotze You may want to post your question on the Financial Edge forums. The audience might be more relevant.

Megan Kotze

@JoAnn Strommen thank you. I will give that a try.

Robin Waldinger

@Megan Kotze our structure is 2 digit fund-2 digit cost center-4 digit gl code - for example rent expense for our multimodal path system is 01-61-6020. That cost center portion is important to our organization because it allows us to track all financials for that specific operation (assets, liabilities, R/E, revenues and expenditures). I can also pull reports for specific cost centers very easily using filter in the reports. We then utilize the grant/project to track those specific items that way. IF i had to change something I would make the cost center 3 digits.

Megan Kotze

@Robin Waldinger Thank you. That is very helpful.

Crystal Bruce

@Megan Kotze discussion moved to Financial Edge community. Thanks!