T-accounts are often helpful to illustrate General Ledger (GL) entries. For every debit entry there is a corresponding credit entry.
Debit = left side of T account
Credit = right side of T account
Below are examples of common endowment entries and how they would be booked on your GL. Use these examples as well when creating your Fundriver exports. Exports can be created for clients that have data in Fundriver that they would like extracted to upload directly into another system (general ledger is the most common). The most common exports Fundriver builds are for Distribution activity, Investment Allocations by GLID, Administrative Fees, and Investment Manager activity (if using our Investment Portfolio Module). The client will generate the exports in the Fundriver software, save the file to their own server, and upload the file directly into their software manually. Contact support at support@fundriver.com to learn more!
Record Interest/Dividends - Investment Activity
1. Debit to asset account to increase balance (Balance Sheet/Statement of Net Assets)
2. Credit to revenue account (Income Statement/Statement of Financial Position)
Record Realized Gains - Investment Activity
3. Debit to asset account to increase balance (Balance Sheet/Statement of Net Assets)
4. Credit to revenue account (Income Statement/Statement of Financial Position)
Record Realized Loss - Investment Activity
5. Debit to revenue account (Income Statement/Statement of Financial Position)
6. Credit to asset account to decrease balance (Balance Sheet/ Statement of Net Assets)
Record Investment Fees (Expenses)
7. Debit to expense account (Income Statement/Statement of Financial Position)
8. Credit to asset account to decrease balance (Balance Sheet/Statement of Net Assets)
Contributions (Gifts) Received
9. Debit asset account to increase fund balance (Balance Sheet/Statement of Net Assets)
10. Credit Permanently Restricted Net Asset account (Income Statement/Statement of Financial Position)
Distributions on Endowed Funds
11. Debit to Temporarily Restricted Net Asset (Income Statement/Statement of Financial Position)
12. Credit to asset account to decrease fund balance (Balance Sheet/Statement of Net Assets)
Distributions on Expendable (Spending/Current Use) Funds
13. Debit to asset account to increase fund balance (Balance Sheet/Statement of Net Assets)
14. Credit to Temporarily/Unrestricted Net Asset Account (Income Statement/Statement of Financial Position)
