--- title: FAQ - What are Funds & Cost Centers? description: This article reviews the description, functionality, and use cases of Funds and Cost Centers in Smartwebs --- [Skip to content](https://solutions.smartwebs.com/en-us/smartwebs-solutions/what-are-funds-cost-centers#main-content) English - United States Show submenu for translations ![Logo-FullColor HOA management Platform-1](https://solutions.smartwebs.com/hubfs/Logo-FullColor%20HOA%20management%20Platform-1.svg) - [Smartwebs Solutions Home](https://solutions.smartwebs.com/) - [Contact Us](https://share.hsforms.com/2VBrljHAiSeCkcUy_-IEe_Aq0yoc) - [Manage Tickets](https://support.smartwebs.com/tickets-view) Open main navigation Close main navigation - [Smartwebs Solutions Home](https://solutions.smartwebs.com/) - [Contact Us](https://share.hsforms.com/2VBrljHAiSeCkcUy_-IEe_Aq0yoc) - [Manage Tickets](https://support.smartwebs.com/tickets-view) - English - United States Show submenu for translations - [Contact Us](https://share.hsforms.com/2VBrljHAiSeCkcUy_-IEe_Aq0yoc) [Contact Us](https://share.hsforms.com/2VBrljHAiSeCkcUy_-IEe_Aq0yoc) How can we help you? - There are no suggestions because the search field is empty. 1. 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Accountants regularly transfer money between Operating and Reserve bank accounts based on the Association's budget and governing documents.  Every GL Account in Smartwebs must be assigned a Fund, ensuring every posting is properly categorized. The Fund Balance Sheet displays Assets, Liabilities, and Equity broken out by Fund. ### **Cost Centers** In traditional accounting, Cost Centers track activity only in non-revenue-generating departments like HR or IT. In Smartwebs, Cost Centers track the purpose of every activity — regardless of GL Account, Owner, or Vendor. Think of Cost Centers as departments where every transaction must have an assigned Cost Center. 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