How Do I Set Up Designation Codes?

The following is a checklist for setting up Designation Codes; complete these steps after the software is installed:

1. Assign a FND (fund) function to a segment either when the organization is created by the Administrator using the File>New Organization>Segments panel, or after it is created with Administrative user rights, using the Organization>Organization Information>Segments panel.
2. Setup up a designation code and assign designations to the associated segment identified above. Use Reports>Assign Report Groups to assign multiple designations to the designation code. Or, use the Maintain>Chart of Accounts Codes>Setup tab to assign only one designation while you are creating an account code. Depending on the function designated, once you click Save, the system automatically updates default statement formats, (Reports>Financial Statements>Create Statement Formats), according to your specific account codes. Setting up designation codes allows the system to know exactly where this information is being stored in the chart of accounts, enabling the production of the default ASC 958 (FAS 117 superseded)-compliant financial statements, accurate Reports>990 Worksheet, and grouping in dashboards.
3. Create a report that includes the Designation Code column (Reports>Lists>Chart of Accounts).
4. Review financial statements formats (Reports>Financial Statements>Create Statement Formats), if applicable.
5. Run a 990 Worksheet (Reports>990 Worksheet), if applicable.