Cash Rebalance of Invested Funds after Fees

Andrea Light

I work at a community foundation and at the end of each month we charge an admin fee to each fund (project) in our invested pools. We pull this fee from their cash accounts. This creates a negative cash balance and we then calculate the total fund deficit and swap that with our community foundation cash reserve. The goal is to have each fund's cash balance at $0, but reduce their invested balance by the fee amount. We have four investment pools so we have a different JE for each pool.

Typically, we would run a statement of financial position for all funds which fed into a spreadsheet we created. We would end up with a nice tab listing the negative balance of all funds that we could export into a journal entry. This is our 1st month using NXT and the spreadsheet formatting doesn’t seem to be compatible with the NXT reports.

Does anyone go through a similar process that could point us in the right direction in NXT or just explain how your organization deals with admin fees in invested funds?