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Setup and configuration

Define default settings for the reservation process and no. series.

The settings you select in pryme Funding Setup establish the setup for the funding number series, and settings when doing reversal funding reservations and usage.

To assign number series and settings, choose the 🔎 icon, enter pryme Funding Setup , and then choose the related link.

Set up the General Fast Tab

The General fast tab allows you to set rules when reversing funding reservations and usage.

  • Select Reserv. Full Reversal to reverse the existing reservation entries and create new entries for the full amount. If not set, difference entries will be created.
  • Select Usage Full Reversal to reverse the existing usage entries and create new entries for the full amount. If not set, difference entries will be created.
  • Usage Amounts From - Allows you to select whether Cost or Price are used for calculating the budget amount and amount to use in the allocation process. The default is Cost.
  • Post usage to G/L - If active, usage allocations will be posted not only to the fund ledger, but general ledger too. Set up the posting groups from the Fund Posting Setup.

Set up the Numbering Fast Tab

The numbering fast tab allows you to set up a unique identification code with a first and last number for the funds, fund commitments, reservations and usage posted.

1 - Fund Posting Setup

Define setup for posting to G/L.

Fund Posting Setup is designed to map the financial transactions related to project funding. It links specific project posting groups, funder posting groups, and fund posting groups with the correct credit and debit accounts, ensuring accurate tracking of fund usage.

This setup ensures accurate posting of project-related funds by associating each group with specific accounts for credits and debits. The configuration is customizable based on project, funders, and fund types.

Set Posting Groups

  • Project Posting Group: Selected on the Project Card from Project Posting Groups list.
  • Funder Posting Group: Selected on the Customer Card from Customer Posting Groups list.
  • Fund Posting Group: Selected on the Fund Card from Fund Posting Groups list.
  • Usage Credit Account: Specifies the general ledger account that should be credited on posting usage allocation entries.
  • Usage debit Account: Specifies the general ledger account that should be debited on posting usage allocation entries.

This setup allows flexible financial management based on various project stages and funding sources, ensuring that transactions are recorded accurately in the general ledger.