The Reconciliation and Entry Module (REM) is designed for organizations with multiple funds that are invested individually, in other words, funds that are not pooled. This is often the case for trust-form foundations.

In this circumstance the assets of each fund are segregated in a separate investment account, and therefore the finance officer receives a separate statement for each fund, and each fund must be reconciled separately. If the number of segregated funds is large, this can be a tedious and time-consuming task.

The Reconciliation and Entry Module works with the FIMS General Ledger (which is a prerequisite component) to simplify the task of reconciling each statement from each fund. This module:

• Beginning Balance: Presents each fund’s beginning balance in each user-identified asset (investment) account.
• Unreconciled Transactions: Lists outstanding unreconciled transactions for confirmation against the statement.
• Investment Earnings Tracking: Prompts the user to enter investment earnings for each account.
• General Ledger Integration: Automatically generates General Ledger Journal entries to record investment earnings and movement of money between asset categories.

Module Overview

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