A list of codes which may be used to generate report groupings. While the Fund Class Codes have special meanings for financial reporting, the Fund Type may be be used for any purpose to categorize funds.
For example, a nonprofit may wish to group all funds defined to define and account for missionary expenditures under a type called “MISSION”.
Governments will often use this field to categorize General, Special Revenue, Capital Project, Debt Service and Permanent fund groupings for reporting purposes.
Fund Types are posted to General Ledger Entries and are available as filters in Account Schedules for use in reports.