accounting for nonprofits interest income allocation … · grants, and endowments module....

011702

2002 Blackbaud, Inc. This publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic, or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without the prior written permission of Blackbaud, Inc.

The information in this manual has been carefully checked and is believed to be accurate. Blackbaud, Inc., assumes no responsibility for any inaccuracies, errors, or omissions in this manual. In no event will Blackbaud, Inc., be liable for direct, indirect, special, incidental, or consequential damages resulting from any defect or omission in this manual, even if advised of the possibility of damages.

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All other products and company names mentioned herein are trademarks of their respective holder.

AFN-InterestIncomeAllocationGuide-011702

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INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Changes to General Ledger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Changes to Project, Grant and Endowment Management . . . . . . . . . . . . . . . . . . . . . 5Changes in Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

GETTING STARTED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Investment Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Establishing Investment Pools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Interfund Entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

INVESTMENT POOL MANAGEMENT. . . . . . . . . . . . . . . . . . . . . . 19

Adding Projects to an Investment Pool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Investment Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24Investment Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

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In This Chapter

Changes to General Ledger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2Investment Pools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3Investment Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3Interfund Entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4Changes to Project, Grant and Endowment Management . . . . . . . . . . . . . . .5Changes in Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6

C H A P T ER 12

Welcome to Blackbaud’s Interest Income Allocation, an optional module for Blackbaud’s General Ledger for Windows™ designed to help you manage investment income. A nonprofit organization often invests money from many different funds and endowments in one or more investment accounts. The organization’s account manager must track the money from each of these funds separately in a general ledger. When an organization receives a statement for this type of pooled investment account, the account manager must calculate the amount of the total earnings or losses and allocate these to each fund in the investment pool. This time consuming calculation is accomplished by computing the asset balance for each fund, adding these numbers to get the total asset balance of the entire account, and determining each fund’s percentage of the total. The account manager must then create journal entries and post the desired entries to the general ledger for each fund.

You must have Blackbaud’s optional

Project, Grant and Endowment Management module to use the Interest Income Allocation add-on module. Please refer to the Project, Grant and Endowment Management User’s Guide for complete details on the features of that module and its relationship to General Ledger.

Interest Income Allocation simplifies managing investment income by automating this process for you. Interest Income Allocation allows you to define “pools” of projects for investment purposes. After periodically creating the pool of projects, you can enter earnings information for the pool and calculate investment fees. The Calculate Investment Income feature automatically computes each project’s share of earnings (or losses), creates a batch of journal entries, and posts the batch to General Ledger. The Calculate Investment Fees feature automatically calculates fees (fixed amount or percentage) for each project in a pool, and posts this information to General Ledger.

Changes to General LedgerIf Interest Income Allocation is present, additional options are available in the Configuration and Security modules of General Ledger. There are also options added to Project, Grant and Endowment Management.

In Configuration, there are three additional tabs.

• Investment Pools

• Investment Fees

• Interfund Entries

The following section further explains these tabs.

IN T R O D U C T I O N 3

Investment Pools

With the Investment Pools tab, you can establish any number of investment pools for distributing interest income to projects. After defining the pool, you can allocate income from various investments to the pool(s) you establish.

Investment Fees

From the Investment Fees tab, you can define the fee schedules used to calculate and post fees for any individual project, selection of projects, or pool of projects.

C H A P T ER 14

Interfund Entries

From the Interfund Entries tab, you can define accounts to use when posting across funds. General Ledger determines if an interfund transaction is necessary to keep the funds in balance, then automatically creates and posts the interfund entries.

IN T R O D U C T I O N 5

Changes to Project, Grant and Endowment ManagementInvestment Pools is an additional tab, while Calculate Investment Income and Calculate Investment Fees are additional options on the File menu of Project, Grant and Endowment Management.

Also additional is the Print Pool Information checkbox on the General Tab of Preferences. When you mark this option, the Project Profile report includes a section for pool information. The report includes information such as the projects in a pool, the asset balance of the projects, the fees of the money manager, and management fees.

C H A P T ER 16

Changes in SecurityWith Interest Income Allocation, additional options are also available in Security. When adding or editing groups through General Ledger Security, new options appear for Project, Grant and Endowment Management. The following Security Options screen shows these changes.

The Calculate Investment Income, Calculate Investment Fees, Post to General Ledger, and Update GL Account budget with project information Security options are additional. Mark the checkboxes to give users in the security group rights to these options.

Pool Information is an additional option in the information grid. Here, you can give users in the group the rights to view, add, edit, and delete pool information.

For more Security information, please see the General Ledger User’s Guide.

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In This Chapter

Investment Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8Establishing Investment Pools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13Interfund Entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17

C H A P T ER 28

To begin using Interest Income Allocation, it is necessary to understand the new configurations and additional tabs in General Ledger. You can configure the program for Investment Fees, Investment Expenses, and Investment Pools. Each new tab contains unique, yet interrelated, functions.

This manual provides a detailed description of how to access and use all Interest Income Allocation features and attain the full benefits of this addition to General Ledger.

Investment FeesThe first step in setting up Interest Income Allocation is to define fee schedules. You must define fee schedules in Configuration before you can run the Calculate Investment Fees facility in Project, Grant and Endowment Management.

The Investment Fees tab is where you add, edit, or delete an investment fee schedule. When adding or editing an investment fee, you can copy the fee and schedule information from an existing fee by clicking Copy From on either the Add a New Fee screen or the Edit Fee screen. From these screens, you can also Preview or Print a Fee Schedule report. The Edit Fee screen appears below.

In Configuration, you can create fee schedules independently of projects and pools. This allows you to use any fee schedule to calculate and post fees for any individual project, any selection of projects, or any pool of projects. Each project may have one or more investment pools, which you add or edit in the Projects, Grants, and Endowments module.

� Accessing the Investment Fees tab

1. From the Start menu, select Programs, Blackbaud General Ledger. A menu appears, displaying the General Ledger modules.

GE T T IN G ST A R T E D 9

2. Select Configuration and the following screen appears.

3. Select the Investment Fees tab. The following screen appears.

4. Previously established investment fees appear in the grid. From this tab, you can add, edit, or delete investment fees.

C H A P T ER 210

� Adding an investment fee schedule

1. From the Investment Fees tab in Configuration, click Add. The Add Investment Fee screen appears.

2. Enter the Fee schedule. This field is used throughout General Ledger to identify the fee schedule. The Fee schedule field is required and must be unique.

3. Enter the Description. This field is required and is used to further identify the fee schedule. The description is always editable and allows for more information about the fee than the Fee Schedule ID.

4. Mark Use the information below to calculate fees to use the information in the grid when the program calculates investment fees for the selected schedule.

5. If you mark When using this fee, prompt for an amount to be distributed, the program asks you to enter an amount, then distributes this amount across selected projects on the Calculate Investment Fees screen.

6. In the fee schedule grid, the From column automatically defaults to zero and is not editable. Enter an amount(s) in the To column to create one or more monetary ranges. During data entry, the program calculates the From amount using the To entry from the previous row. You must leave the To amount blank in the last row you enter in the grid. This row is used for all amounts greater than the specified maximum.

7. Enter an amount in the Fixed Amount column. The program applies it to any project with an asset balance that falls within the specified range.

8. Enter percentages in the Money Manager and Management Fee columns. The program multiplies these by the project’s calculated asset balance to determine the amount of the fee. Two percentage fees are provided so you can distinguish between fees charged by the financial institution managing the investment account, and fees charged by the nonprofit organization managing the funds.


9. If you want to Divide the balance based on these ranges and apply all relevant fees to each portion of the balance, mark the corresponding checkbox.

10. Click Copy From to copy a fee from an existing schedule. The information appears in the grid.

11. Click OK when you are finished entering information to return to the main screen of Configuration.

� Editing an investment fee schedule

1. From the Investment Fees tab in Configuration, highlight the fee you want to edit.

2. Click Edit. The Edit Fee screen appears.

3. Mark Use the information below to calculate fees to use the information in the grid when the program calculates investment fees for the selected schedule.

4. If you mark When using this fee, prompt for an amount to be distributed, the program asks you to enter an amount, then distributes this amount across selected projects on the Calculate Investment Fees screen.

5. Change information as needed in the fee schedule grid, including the From, To, Fixed Amount, Money Manager, Management Fee, and Minimum Fee columns.

6. Decide whether you want to Divide the balance based on these ranges and apply all relevant fees to each portion of the balance by marking or clearing the checkbox.

7. Click OK to return to the Investment Fees tab.

� Deleting an investment fee schedule

1. From the Investment Fees tab in Configuration, highlight the fee you want to delete.

C H A P T ER 212

2. Click Delete. A confirmation message appears.

3. Click Yes to delete the record, or No to return to the Investment Fees tab without deleting the record.

� Copying an investment fee schedule

You can also click Copy From on the

Edit Fee screen in Configuration to replace all existing values in the grid


2. Enter the Fee schedule identifier or number and the Description.

3. Mark an option to indicate whether you want to use the information in the grid to calculate fees or have the program prompt you for the amount to distribute.

4. Click Copy From. The Copy a Fee Schedule screen appears.

5. Select the investment fee schedule you would like to copy from the drop-down list of established fees. Click OK. The new amount appears in the From column on the Add a New Fee screen.

6. To divide the balance based on the ranges in the grid and apply the fees to each portion of the balance, mark the checkbox.


7. Click OK to return to the Investment Fees tab.

� Printing/Previewing the Fee Schedule report

When adding or editing an investment fee, you can Preview or Print an Investment Fee Profile report. The following procedure illustrates printing and previewing when adding an investment fee.


2. Click Preview to view the report on the Preview screen. From this screen, you can print, e-mail, or export the report.

3. Click Print to send the report directly to your printer.

Establishing Investment PoolsAfter adding investment fees, you can define investment pools. From the Investment Pools tab in Configuration, you can add, edit, and delete an investment pool. In addition, when adding or editing an investment pool, you can preview or print a Pool Profile report.

Each investment pool contains a group of projects. After you create a new pool, you need to add specific pool information to each project belonging to the pool. When you complete the setup process, you can run the Calculate Investment Income and Calculate Investment Fees facilities from within Project, Grant and Endowment Management. These features automatically calculate each project’s share of the pool’s total investment income or related management fees. The program then adds the necessary entries to General Ledger, saving you time and data entry by automatically calculating, as well as creating, transactions.

C H A P T ER 214

� Accessing the Investment Pools tab

1. From Configuration, select the Investment Pools tab. The following screen appears.

All established investment pools appear in the grid. From this tab, you can add,

edit, or delete investment pools.

� Adding an investment pool

1. From the Investment Pools tab in Configuration, click Add. The Add Investment Pool screen appears.

2. In the Pool field, enter the pool ID, which is a required alphanumeric field used throughout General Ledger to identify the pool.

3. Enter the Description. The description is required. This field allows for a more detailed identifier of the investment pool.

4. Select the Default Fee schedule from the drop-down list of established investment fees. This schedule is used as a default when adding the pool to the project. You can overwrite this information.


5. In the Account No field, enter an account number for the pool.

6. Enter the name of the financial institution managing the funds in the Managed by field.

7. Enter the address of the financial institution in the Address, City, State, ZIP, and Country fields.

8. In the Last name, First Name, and Position fields, enter the name of the contact person and their position at the financial institution.

9. Enter the types of numbers and telephone numbers in the Phone(s) grid.

10. Enter account information for the investment pool. This information includes the account number, name, address, contact person, and phone number of the financial institution.

11. Click OK to return to the Investment Pools tab.

� Editing an investment pool

1. From the Investment Pools tab in Configuration, highlight the investment pool you want to edit.

2. Click Edit. The Edit Investment Pool screen appears.

3. Change the Pool field, if desired.

4. In the Description field, change the description of the pool. If you plan to change a pool number, be sure to change the description accordingly.

5. You can select a new fee schedule in the Default Fee schedule field.

6. In the Account No field, you can change the account number.

7. You can change the information in the Address, City, State, ZIP, and Country fields.

8. You can change the Last name, First Name, and Position fields.

9. In the Phone(s) grid, you can change the types of numbers and telephone numbers.

10. Click OK to save your changes and return to the Investment Pools tab.

C H A P T ER 216

� Deleting an investment pool

1. From the Investment Pools tab in Configuration, highlight the investment pool you want to delete.


3. Click Yes to delete, or No to return to the Investment Pools tab without deleting the record.

� Previewing/Printing a Pool Profile

When adding or editing an investment pool, you can Preview or Print an Investment Pool Profile report. The following example illustrates previewing and printing when editing an investment pool.

1. From the Investment Pool tab in Configuration, click Edit. The Edit Investment Pool screen appears.


2. Click Preview to view the report on the Preview screen. From this screen, you can print, e-mail, or export the report.

3. On the toolbar, you can click print to send the report directly to your printer or click export to export the report.

Interfund EntriesWhen you post from Interest Income Allocation, it may be necessary to post investment income and fees across General Ledger funds. The Interfund Entries tab allows you to define the accounts used if this is the case. Once you define the accounts to use for this procedure in Configuration, you can select the desired interfund entry from the Investment Pools tab in Project, Grant and Endowment Management. The program then performs a validation of the selection to ensure you make the proper choice.

Interfund entries on the project record enable the program to automate the creation of transactions that move funds between General Ledger funds when posting investment income and fees.

All interfund entries display on the grid to help you keep a record of the transactions within the grid. The description of the interfund entry must be unique, and you cannot delete or modify entries in use.

C H A P T ER 218

� Establishing interfund entries

1. From Configuration, select the Interfund Entries tab. The following screen appears.

2. Enter the Description of the interfund entry in the grid. The description is used as an identifier throughout General Ledger and must be unique.

3. Select the desired Source Account. This is the account from which funds are being transferred. Enter the account number, or click inside the cell, then click the binoculars to search for the desired account. For more information on searching for an account, please refer to the General Ledger User’s Guide.

4. Select the Destination Account. The destination account is the account to which funds are being transferred from the Source Account. Enter the account number, or click inside the cell, then click the binoculars to search for the desired account. For more information on searching for an account, please refer to the General Ledger User’s Guide.

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In This Chapter

Adding Projects to an Investment Pool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20Investment Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24Investment Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26

C H A P T ER 320

Adding Projects to an Investment PoolInvestment Pools is an additional tab available with Interest Income Allocation. This tab appears on the project record in Project, Grant and Endowment Management.

You can use the Investment Pools tab to define the pools associated with each project. You can access any existing projects or create new projects from Project, Grant and Endowment Management. The addition of Interest Income Allocation to General Ledger provides the ability to maintain projects within designated investment pools.

The Investment Pools tab allows you to view all pools associated with a project.

� Accessing a project record

1. From the Start menu, select Programs, Blackbaud General Ledger. A menu appears, displaying the General Ledger modules.

IN V E S T M E N T PO O L MA N A G E M E N T 21

2. Select Projects and Grants to open the optional module Projects, Grants, and Endowment Management. The following screen appears.

3. Select File, Open to open an existing project. The Open a Project/Grant screen appears.

4. Highlight the project you want to open.

5. Click Open to view the project record.

C H A P T ER 322

� Adding a project to an investment pool

1. From the Project screen, select the Investment Pools tab. The following screen appears.

If the project you choose is already associated with one or more investment pools, the pools display in the grid, identified by the Pool ID and Pool Description.

You can enter balance sheet information on

the Add Project screen.

2. Click Add. The Add Project screen appears.

3. Select the Investment pool from the drop-down list of established pools. The Default fee schedule fills in automatically, but you can select a different fee schedule from the list.


Asset accounts are used for all

calculations. However, the asset accounts you select for this specific process are only used with the Average Daily Fund Balance or Ending Fund Balance calculation methods

4. Enter the asset account(s) that determines the project’s balance for pool and fee calculations, or click the binoculars to search for an account. This information comes from previously established asset accounts in General Ledger. When you enter the account number, the Description and Account Type fill in automatically. You cannot edit these fields.

5. Enter the accounts used for posting income and fees for the project. Cells with a yellow background are not editable. For each Transaction Type, enter a Debit Account and Credit Account, or click the binoculars to search for the desired accounts. Debit and credit accounts for Unrealized Gains must be in the same fund.

For investment income posting accounts in the

General Ledger account grid (the first five rows), debit accounts must be asset accounts. For investment fee posting accounts in this grid (the last three rows), debit accounts must be expense accounts.

6. If the debit and credit accounts are in separate funds, enter the interfund entry. The Interfund Entries cell is disabled for Unrealized Gains.

7. The Project column defaults to the project you are editing, but you can enter a new project number or click the binoculars to search for a specific project.

8. Click OK. The new pool displays on the Project screen.

� Editing a project in an investment pool

1. From the Investment Pools tab in Project, Grant and Endowment Management, highlight the project you want to edit.

C H A P T ER 324

2. Click Edit. The Edit Project screen appears.

3. Make any desired changes.

4. Click OK to return to the Project screen.

� Deleting a project from an investment pool

1. From the Investment Pools tab in Project, Grant and Endowment Management, highlight the project you want to delete.


3. Click Yes to delete the project.

Investment Income Interest Income Allocation adds two new File menu options to Project, Grant and Endowment Management— Calculate Investment Income and Calculate Investment Fees. When you select Calculate Investment Income, the Calculate Investment Income screen appears. This option allows you to select an Investment pool. Then, you can enter Income Investment Information including: Interest, Dividends, Royalties, Realized gains, and Unrealized gains. The program then divides all of this information among the projects in the


investment pool. From this screen, you can determine the Balance Calculation and Post Options, after which different posting options become available. You can post your balance immediately, or return to the program later and post the batch to your ledger. Finally, you can preview your Investment Income report on screen before printing, or send it directly to your printer.

� Calculating Investment Income

1. From Project, Grant and Endowment Management, select File, Calculate Investment Income. The Calculate Investment Income screen appears.

2. Enter the Investment pool, or select it from the drop-down list of pools established in Configuration.

3. Enter the investment income amount(s) in the appropriate fields of the Income Investment Information frame, or click the calculator to calculate the desired amount(s). You can enter an amount for calculating Interest, Dividends, Royalties, Realized gains, and Unrealized gains. The program uses these amounts to calculate the distribution for the projects in the pool.

4. In the Balance Calculation frame, select a Calculation method. Enter the desired dates for calculation, or click calendar to locate a date. You can select either Ending Balance, to calculate the ending asset balance as of the date you specify, or Average Daily Balance, to calculate the average daily balance and have the program prompt you to designate starting and ending dates.

C H A P T ER 326

We recommend waiting until you are

familiar with Interest Income Allocation before using the Post batch to General Ledger option. If you do not select this option, the program still creates a batch. You can post the batch from Journal Entry and preview it for mistakes, as well as view a Pre-Calculation report from Project, Grant and Endowment Management.

5. Mark the desired checkbox to Exclude debit transactions posted after <date> and/or Exclude credit transactions posted after <date>. Enter the desired date(s) or click calendar to locate a date(s).

6. In the Post Options frame, enter a Post date, Source code, and any desired Reference notes. Mark Post batch to General Ledger to automatically post the batch after calculation.

7. Select the option to Post in Detail or Summary.

8. Indicate if you want to Print reports or Preview reports after calculating, then select either Landscape or Portrait formatting for your report.

9. If you want to view a report showing all calculations before creating the batch, click Pre-Calculation Report.

10. A preview screen appears.

11. From this screen, you can print, e-mail, or export the report. Close this screen to return to the Calculate Investment Income screen.

12. Click Calculate and Create Batch. If you leave the post option blank, the program creates an open batch, which you can post later. If you mark Post batch to General Ledger, the batch automatically posts after the calculation.

Investment FeesWhen you calculate fees, you can specify one or more projects and a balance calculation method. Interest Income Allocation determines the asset balance for each project and calculates the appropriate fees using the fee schedule defined on each project’s Investment Fees tab. You have the option to choose from two calculation methods, Ending Asset Balance or Average Daily Asset Balance. The program creates a single batch of General Ledger transactions to post these fees to the accounts specified on each project’s Investment Fees tab. Various report options are also available.


� Calculating Investment Fees

1. From Project, Grant and Endowment Management, select File, Calculate Investment Fees.

2. The Calculate Investment Fees screen appears.

Once you enter the desired project(s)

information, click OK to return to the Calculate Investment Fees screen to continue entering information.

3. Click Calculate Fees for and select either All Projects in a Pool, Selected Projects in a Pool, or Selected Projects.

• If you select All Projects in a Pool, select which pool of projects to access for calculating the fees.

• If you choose Selected Projects in a Pool, select a pool from the drop-down list in the Pool field. There are two information boxes: the Projects in this pool box and the Calculate only for these projects box. Use the arrows to designate which projects to use for the calculation.

• If you choose Selected Projects, there are two options: Calculate for all projects and Calculate for selected projects. Marking either of these prompts the program to list the projects in the Projects box. Use the arrows to designate which projects to use for the calculation. At the bottom of the screen, the grid lists the General Ledger accounts used for posting fees.

C H A P T ER 328

We recommend waiting until you are

familiar with Interest Income Allocation before using the Post batch to General Ledger option. If you do not mark this checkbox, the program still creates a batch. You can post the batch from Journal Entry and preview it for mistakes, as well as view a Pre-Calculation report from Project, Grant and Endowment Management.

4. In the Balance Calculation frame, select a Calculation method. Enter the desired dates for calculation, or click the calendar to locate a date. You can select either Ending Asset Balance, to calculate the ending asset balance as of the date you specify, or Average Daily Asset Balance, to calculate the average daily balance and have the program prompt you to designate starting and ending dates.

5. In the Post Options frame, enter a Post date, Source code, and any Reference notes. Mark Post batch to General Ledger to automatically post the batch after calculation. You can choose to Calculate and Create Batch, and post the batch later through Post in General Ledger.

6. Select the option to Post in Detail or Summary.

7. Indicate if you want to Print reports or Preview reports after calculating, and select either Landscape or Portrait formatting for your report.

8. If you want to view a report showing all calculations before creating the batch, click Pre-Calculation Report. A preview screen appears.

9. From this screen, you can print, e-mail, or export the report. Close this screen to return to the Calculate Investment Income screen.

10. Click Calculate and Create Batch. If you leave the post option blank, the program creates an open batch, which you can post later. If you mark Post batch to General Ledger, the batch automatically posts after the calculation.

accounting for nonprofits interest income allocation … · grants, and endowments module....

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