General Ledger Funds

You can use the General Ledger Funds page to configure the account information and authorization levels for the sources of financial aid funds. You can add or edit the authorization levels, account information, and transaction types for the funds. Anthology Student is installed with a default list of funds. You can customize the list by adding and deleting the funds for your institution.

The funds, accounts, and journal transaction types that you configure here can then be selected on the General Ledgers Transactions page (Select the Processes tile > expand Financial Aid > select General Ledger Transactions.).

Prerequisites

You must have Financial Aid - Configuration - Manage authorization.

Access Method

Select the Configuration tile > expand Financial Aid > select General Ledger Funds.

Procedure to Add or Edit Items

  1. Review the values of the records in the grid.

  2. If you want to:

    • Add a new list item, select the New button on the toolbar

    • Add a new list item by copying and modifying an existing list item, select the row in the list and the Duplicate button on the toolbar

    • Edit an existing list item, select the name in the list

  3. Review, specify, or change the following values. The fields you specify will depend on the value you select for Type.

    ActiveClosed Specifies whether the associated record is active.

    Auth. Transfer FundClosed If you want Anthology Student to automatically transfer amounts from the Gap fund, select the name of the Gap fund in the list. If the balance amount in the fund you are configuring is less than the amount of the payment being posted, Anthology Student transfers the difference amount from the Gap fund to the fund. Only the amount required to complete the payment is transferred. If the Gap fund does not have the amount needed to complete the payment, the amount is transferred anyway, and the Gap fund will have a negative balance. To automatically transfer from a Gap fund, Anthology Student must be configured to use all Financial Aid General Ledger (FA G/L) functions.

    Auth. TypeClosed Specifies how funds can be distributed. The list is filtered by the options allowed for the type of fund you selected in the Type list. The possible options are C - By Campus, D - By Direct Loan ID, P - By Campus Pell ID, and S - By Serial Number.

    CodeClosed The alphanumeric code assigned to the item by your institution. In most cases, codes must be unique.

    Commitment LevelClosed The amount of the authorized amount that has been committed. The committed value is a percentage of the authorized amount that your institution configured for the fund. For Pell Grants, Iraq and Afghanistan Service Grants (IASG), and Gap funds, it is set to 100% of the amount authorized. For all other fund types, you can specify the value. (Typically the value is set to 100% for other fund types as well.)

    DescriptionClosed Text that describes the item.

    TypeClosed Select the type of fund. The options are: Direct Loan - GAPS, Direct Loan - Program, Federal ACG Grant, Federal College Work Study, Federal Pell Grant, Federal Perkins Loan Federal SEOG, Federal SMART Grant, Federal TEACH Grant, FFEL, GAPS, Iraq and Afghanistan Service Grant, and Other. For non-Title IV funds (e.g., scholarships and institutional grants), select Other. For more details about the types and their codes, see Background for the General Ledger and Fund Source Types.

    Anthology Student automatically adds the default transaction types that are appropriate for the fund you select in the Type list or the Journal Transaction Types list.

  4. Under Accounts, select the Add button.

    Note: You cannot change the account number or remove an account that has transactions posted.

  5. Add the record for the account by specifying the following values.

    Account NameClosed The name of the account.

    Account NumberClosed The number of the financial aid general ledger account. The format is nnnn-nnn.

  6. Under Journal Transaction Types, select the Add button if you need transaction types in addition to the default types added by Anthology Student.

    Note: You cannot change any of the values for the default Journal Transaction Types provided by Anthology Student.

  7. Add the record for the account by specifying the following values.

    ActiveClosed Specifies whether the associated record is active.

    CodeClosed The alphanumeric code assigned to the item by your institution. In most cases, codes must be unique.

    Credit Account Number Closed The account credited for the amount. Your institution configures the accounts.

    Debit Account Number Closed The account debited for the amount. Your institution configures the accounts.

    Journal Name Closed The name you will use to identify the type of transaction when you add and review journal entries.

  1. If you want to save and: 

    • Continue making changes, select the Save button

    • Continue to add another item to the list, select the Save & New button

    • Close, select the Save & Close button

Under Accounts and Journal Transaction Types, you can use the Remove button to remove unused accounts and journal transaction types.

Delete or Deactivate General Ledger Funds

You can use the General Ledger Funds page to delete or deactivate financial aid general ledger funds.

You cannot delete a fund that is associated with any of the following.

  • An account
  • A fund source
  • A transaction type
  • Posted transactions