BALANCE SHEET REFERENCE TYPES

BALANCE SHEET REFERENCE TYPES

New balance sheet reference types have been added for NET POSITION-RESTRICTED and NET POSITION-UNRESTRICTED (for GASB Statement 63). These are for use by proprietary and fiduciary fund types and take the place of NET ASSETS-RESTRICTED and NET ASSETS-UNRESTRICTED. To create these (and all standard balance sheet reference types), you will need to explicitly select the Resource from the Financial Management program update (version control). This is the resource labeled STANDARD FINBREF RECORDS – Make FINBREF Records. The resource number varies by organization state and type but is normally located on or around 210 to 215. Once you locate the resource, highlight it and then click the Select button (not the Select All). To implement, change the reference type in your Standard Balance Sheet codes (via Setup) and then change the reference type in the balance sheet account masters (those that are currently assigned NET ASSETS-RESTRICTED and NET ASSETS-UNRESTRICTED).

Product Date: Tuesday, February 11, 2014

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