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Overview

The PeopleSoft Chart of Accounts (COA) structure uses "chartfields" (or segments) to record the financial effect of each transaction. The chart of accounts is intended to consider all financial reporting needs, providing sufficient flexibility to allow for the development of financial statements for management, as well as, external readers. It serves as the basis for recording the day-to-day financial operations of the Colleges. The combination of chartfields brings meaning to the transaction. Based on an analysis of reporting and financial management needs, and to allow for adequate reporting flexibility and growth, information related to the Colleges' transactions will be captured using multiple chartfields as depicted in the tables that follow. The use of certain chartfields, are required for each transaction. The required chartfields record information related to the nature of the transaction (Account - revenue, expense, asset, liability, net assets), area responsible for or effected by the transaction (Department), monies used or generated (Fund), and the purpose of the transaction (Program). Certain other chartfields will be used optionally, depending on the nature and intent of the transaction.

Chartfields

The tables that follow depict the PeopleSoft chartfields established to support the Colleges' financial management and reporting. In entering a transaction to PeopleSoft Financials (journal entry, labor distribution, purchase requisition, expense report, etc.), the user populates each field with entries that can be selected from a list of valid values. The financial system also provides functionality to help ensure that the combination of values selected by the user is valid.

Chartfield Name Account Fund Department Program MyReference
Length xxxxx (5) xx (2) xxxxx (5) xxxxx (5) xx (2)
Entry Requirement:
Revenue Required Required Required Required Optional*
Expense Required Required Required Required Optional*

* = Available for use by departments to enter a meaningful code (not used in financial reporting).

Account IDs

The Account Chartfield is used to categorize the nature of the transaction as a specific type of asset, liability, net asset, revenue or expense. It is a required field for every revenue, expense or balance sheet transaction. Most of the campus community will be using only the revenue and/or expense accounts.

Example Accounts List

Office Description ID
Expenses Office Supplies 51010
Desktop Computers 55402

For a full list of accounts, please consult the Account ID List.

Fund (Net Asset Classification)

Fund is used to track spending restrictions, designations and to categorize the Colleges' net assets for external reporting. This chartfield is required on all transactions. There are multiple Fund codes; however, the ones mostly used by the campus will be:

Value Term Meaning
11 Current Fund Traditionally used when spending out of the department's operating budget
21 Current Restricted UR Always used for grant spending, generally used for endowment spending and restricted gift spending
22 Current Restricted TR Generally used for endowment spending and restricted gift spending
71 Plant Fund UR Generally used for projects
72 Plant Fund TR Generally used for plant projects where funds are from a donor
90 Agency Funds Always used for student club accounts and other agency accounts

Department IDs

The department identified with the transaction represents the Colleges' academic or operating unit "responsible" for, or effected by the transaction. It is a required field for all transactions. Units generally meet the following criteria to be considered a department:

  1. Ongoing business purpose and objective for the Colleges.
  2. Has an established budget.
  3. Has fiscal oversight by a responsible person.
  4. Has positioned employees.
  5. Generally, occupies space.

Example Departments List

Offce Department ID
Provost Office of the Provost 15050
Art 15620
Asian Languages and Cultures 15630
Biology 15640
Student Affairs Office of Student Affairs 20045
Alcohol Education 20050
Counseling Center 20055

For a full list of departments, please consult the Department ID List.

Program IDs

This field is used to record revenue and expense transactions associated with formal or informal programs including public service activities, academic initiatives, cross disciplinary initiatives and centers, etc. Values in this field may include restricted gifts, grants, scholarship programs, endowments, planned giving and plant related activities. Programs may be groups of activities conducted within or across departments, they are divided between operating and non-operating for budget purposes.

Example Programs List

Operating Programs
Office Description ID
No Program 00002
President President's Discretionary Fund 01510
Provost American Studies 03010
Urban Studies 03020
Gay/Lesbian Studies 03030

For a full list of operating programs, please consult the Operating Program List.

Non-operating Programs
Office Description ID
Restricted Gifts D'Angelo Music Award 20010
Grants NSF Non-uniform Surface Cond 30100
Loan Perkins Loans Issued 40100
Endowment Clarence E Seward Scholarship 50012
Planned Giving Arthur deCordova CRUT 60003

For a full list of non-operating programs, please consult the Non-Operating Program List.

MyReference

This field can be used at the discretion of individual departments. The value used will have meaning only to that department. This field is not used in financial management or reporting for the Colleges. No values will be defined within PeopleSoft. Example uses are as follows:

  1. Departments can categorize expenses for certain activities.
  2. Department managers, chairs or leaders can give budget responsibility to another member of the department to manage using a different value for this field.
  3. Dollar amounts can be categorized by a fiscal or other period using this field.