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How do I merge funds in Fundriver?

The steps outlined below are for clients with standard database setup.  If you have a customized database please contact support@fundriver.com for assistance merging a fund.

A merge funds feature is available in Fundriver, although it is often recommended that a fund be deactivated and the value transferred instead of merging (to create a better audit trail).  

Instructions on deactivating a fund and transferring value are available in the Fundriver Knowledge Base under GENERAL SOFTWARE USE > MANAGING FUNDS.  

Funds must be in the same investment pool to be merged.  

1. Log in to Fundriver and navigate to ORGANIZE FUNDS.

2. Click on the MERGE FUNDS tab.

3. Enter the fund that is to be closed and the one into which the fund will be merged.  The merge will occur as of your last posting period.

Click MERGE to complete the process.

When you merge funds, make sure to follow the steps below to redirect the distributions that may be generated by the closing fund if applicable.

4. A DISTRIBUTION RULE needs to be set up on the fund that is being closed (either prior to or after fund closure, but before creating distributions). To add a DISTRIBUTION RULE, navigate to the Fund Profile for the closing fund and expand the DISTRIBUTION ACCOUNT tab. Click the green ADD button to add a rule

 

5. Set up the distribution rule to DISTRIBUTE ALL (as shown below--keep AMOUNT as 0.00). The INTERNAL DESTINATION should have the name of the fund into which the closing fund will be merging.

If your organization utilizes a GL Export for distributions, the Destination ID, Fund, Program, and Project should mimic what is set up on the internal destination fund.  

NOTE:  It may be helpful to take a screen shot of the destination fund for your reference during this process.

In cases where the Destination, Fund, Project, etc. are already the same (due to how the DISTRIBUTION RULE was previously set up), then only the INTERNAL DESTINATION needs to be modified.

6. Once the DISTRIBUTION RULE is set up for all funds being merged, distributions can be generated by navigating to ACTIVITY DISTRIBUTE and creating distributions.

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