Association Funds are a convenient way to break out financial information, also referred to as Cost Centers. Many Associations have "Operating" and "Reserve" funds, but may include more such as "Town Homes", "Building 1", " Building 2", etc.
If you are needing to set up a new fund for your association you will navigate to Association > Funds. To create the new fund you will select + New Fund button.
Next you will enter in the Order, Fund Name and Report Group that you are wanting for this fund. The Default Bank Account will always be the Operating Bank Account that has been set up. You will only ever need to change this if you are wanting to set the fund up to be paid out of a different bank account other than the Operating Bank Account.
**Operating is default and not reflected on this screen**
If you do not currently have any Bank Accounts set up, you will need to set one up before choosing your Default Bank Account.
To set up a Bank Account, you will navigate to Association > Bank Accounts and select the + New Bank Account button.
You can view how to set up Bank Accounts HERE.
Once the Bank Account has been added, you can then go back to your Association > Funds page and select 'Edit' next to that specific fund in order to select the Bank Account you just added as the Default Bank Account. You can not choose Bank Accounts listed as a Savings account type, so make sure they're listed as Other DDA, CD, or MMA before selecting.
Once you have selected your Default Bank Account, you will hit 'Update' so it will save your changes.
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