Client is having 5 types of funds which can be used for differing purposes in finance. These funds are current funds, endowment funds, chair funds,fixed asset funds & chair funds . There existing COA is based on this classification. Eg. a GL account for travel expenses is created five times representing each funds i-e if current funds are represented by 1 then GL account for travel expenses will be created as 831000 . Here 1 is representing that this GL is from current funds, likewise this GL will be created 4 times more for other fund categories with differing coding structure.
Client is not using budget structure and will use bottom up budgeting , so budget structure will not be used.
In new COA i am thinking to make use of additional FM account assignment in FM-BCS. Funds will be enabled. Accordingly funds will be created for all these five types.Further more these funds are divided into restricted, unrestricted and temporary restricted. To cater these i can make use of fund types. Is this approach fine enough to map their requirement in system.