Close, Open, or Delete Funds

1. Navigate to the Funds page.
2. Enter the fund name in the Search Funds field and select the fund from the drop-down list.
   • Alternatively, click List Open in the left-side menu to view a list of all funds. Click the ID of the fund to be closed. 
     
     
     
3. Verify the fund has a zero dollar balance.
   • If the fund still has a balance, create an internal grant or an interfund transfer to move the remaining assets out of the fund to be closed.
   • The system will make automatic entries to the net assets as long as all remaining balances net to zero and are located in the three restriction accounts. The assets must be brought to true zero. This means that the fund cannot have a positive balance in one account and an equally negative balance in another account.
   • Run a balance sheet on the fund to make sure there is no other outstanding balance.
4. Exclude the fund from revenue share or give the fund's revenue share to another fund.
   • These settings can be found in the Cash Management section of a fund, which is accessible when the fund is edited.
   • While editing the fund, also remove admin fees and distributions from the fund if applicable.
     
     
     
5. Run a Manual Fund Statement.
   • It is recommended to run a manual fund statement so the last fund statement for the fund is available.
6. Click Close in the left-side menu.
7. Change the Close Date if needed, and then click Close Fund.
   
   
   
   • A journal entry for the Close transaction will be generated.
   • A Fund Closed banner will display at the top of the fund's Details tab.
     
     

1. Navigate to the Funds page. 
2. Click List Open in the left-side menu. 
   • Alternatively, click List Open, List DAFs, List Agency, List Promoted, or List Affiliate to bulk close funds from those pages.
3. Click Filter to filter the list as needed before bulk closing funds.
   
   
4. Click Bulk Close Funds in the left-side menu.
5. Verify the box is checked for each fund to be closed, change the Close Date if needed, and then click Close.
   • Remove the check in the None column to remove the fund from the close action. 
     
     
     

The system displays a message as each fund is successfully closed. If a selected fund is unable to be closed due to a fund balance, the system displays a message containing the fund name and ID. Resolve the issue and then start the steps again to close the fund and any remaining funds in the list.

Before a fund can be deleted, fund advisors, grant approvers, voucher approvers, and assigned fund fees must be removed. Funds cannot have any transactions associated with them either. If they do, close the fund instead.

1. Navigate to the Funds page.
2.  Enter the fund name in the Search Funds field and select the fund from the drop-down list. 
   • Alternatively, click List Open in the left-side menu to view a list of all funds. Click the ID of the fund to be deleted.
     
     
     
3. Click Delete in the left-side menu.
4. Click [Yes] to confirm the deletion of the fund.
   

1. Navigate to the Funds page.
2. Enter the fund name in the Search Funds field and select the fund to be opened from the drop-down list.
   • Alternatively, click List All in the left-side menu to view a list of all funds. Click the ID of the fund to be opened.
     
     
     
3. Click Open in the left-side menu.

1. Navigate to the Funds page. 
2. Click List All in the left-side menu. 
   • Alternatively, click List Open, List DAFs, List Agency, or List Affiliate to bulk open funds from those pages.
3. Click Filter to filter the list as needed before bulk opening funds.
   
   
4. Click Bulk Open Funds in the left-side menu.
5. Check the box for each fund to be opened, and then click Open.
   • Remove the check in the None column to remove the fund from the open action.