General Funds


Some schemes run general funds that are not allocated to any particular member. The General Fund button allows you to set up such a fund. Another record will show in the grid of Members with the name ‘General Fund’. The normal member fields (date of birth etc will not be visible). When allocating contributions or transfers between the members, the General Fund will be included in the options. Similarly, when the software calculates the fund split the General Fund will be included.


Pre April 2006 General Funds should not be amalgamated with post April 2006 funds.


When allocating amounts from the General Fund to a member, the provisions of Section 172C of Finance Act 2004 (as amended should be borne in mind) amongst other issues.


If there is already such a fund (that has not been archived) then you will be asked to confirm that you want to add another general fund and to enter a name.