Each Fund must have a Balance Sheet Business Unit to account for assets, liabilities, and fund equity. The number of this Business Unit will be the same number as the Fund number. Funds will also have other types of business units to account for revenues and expenditures. These can be simple Income Statement, Grant or Warehouse Business Units.
A Business Unit is a separate entity within a Fund used to track activity. A Business Unit can be a grant, project, warehouse location or cost center. These types of Business Units will account for expenditures and revenues.
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