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LOAN FUND CODES

Function
Enter, edit, or print fund codes (funding sources) to assist in managing the loan portfolio and related reports.


Fields

Code                          
Enter up to a 7-digit numeric code to be established.

Description               
Enter descriptive text to be attached to the code number just entered. 

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Things You Should Know

• Fund Code is not a required field when Loan Master files are initially created, but is required prior to posting activity to the loan.  
• These codes are available as selection criteria on reports and statistics. 
• If you use GMS Accounting and Financial Reporting Software, fund codes should be entered using the same number established as the Project code within accounting.  When journal entries are prepared, the fund code may appear under the column “Project”. 
• Fund codes may be up to seven digits, and may be added at any time. 
• Use caution when deleting or editing existing codes.  If loan activity (disbursements and or repayments) have been recorded to a specific fund, editing or deleting that fund may seriously impact the integrity of data when reports and statistics are generated.