Transcript Accounting 101 Module II Budget Training

Chart Field Combinations
Fund
Dept ID
Program
Class
Budget Ref
Purpose
This session is designed to provide an
overview of Chartfields and Chartfield
Combinations and their application at
Georgia Regents University.
Agenda
Chartfields & Their Purpose
Basic accounting entries using funds and chart
field combinations
What Are Chart Fields?
The Chart Field Combination (CFC) is
composed of:
–
–
–
–
–
–
–
Account Code
Fund
Department ID
Program
Class
Budget Reference
Project/grant ID (optional)
The term “Chart Field Combination” (CFC) is a
standard PeopleSoft term.
What does the CFC tell us?
The Chart Field Combination (CFC) is a
set of numerical characters that tell us:
– What the funds were used for
– Where the funds came from
– Who (i.e. what school) the funds belong to
Account Codes
The “What”
Descriptor of the nature of the revenue,
expense, asset, liability or net asset (fund
balance) accounts
The Account code is a 6 digit-numeral
Account Codes
1xxxxx – Assets
2xxxxx – Liabilities
3xxxxx – Net Assets, Reserves
4xxxxx – Revenues
5xxxxx – Personal Services
6xxxxx – Travel
7xxxxx – Operating Supplies
8xxxxx – Expenses
Fund Code
The “Where” part I
The source or nature of the item
The Fund Code is a 5 digit numeral
GRU Funds
Unlimited number may be used; however,
limited by practicality
Other Chart Field Identifiers are used for
reporting/further definition
Fund Groups
Unrestricted – Operating
Restricted Purpose
Loan Funds
Endowment
Plant
Agency (funds held for others)
(1XXXX)
(2XXXX)
(3XXXX)
(4XXXX)
(5XXXX)
(6XXXX)
Department ID
The “Who”
First 2 digits represent a School or
Administrative unit
If the first or last digit is an “A”, it is an
agency Department ID
It is typically a 8 digit numeral
Program Code
The “How” the funds are to be used
Defined by the BOR
Based on the NACUBO (National Association
of College and University Business Officers)
“functional” area
It is a 5 digit numeral
Program Code Overview
Education & General
-
1XXXX
Auxiliary Enterprises
-
2XXXX
Other
-
3XXXX
Program Code Detail
Education and General
Instruction
Research
Public service
Academic support
Student services
Institutional Support
Plant Operations
Scholarships and Fellowships
11xxx
12xxx
13xxx
14xxx
15xxx
16xxx
17xxx
18xxx
Program Code Detail
Auxiliary Enterprises
Housing
Food services
Stores
Health services
Transportation and Parking
Auxiliary Plant
Other Organizations
21xxx
22xxx
23xxx
24xxx
25xxx
26xxx
27xxx
Program Code Detail
Other
Patient care
32xxx
Class Field
The “Where” part II
– Generally correlates with the Fund
– Gives a more detailed “Where” than the Fund
Detailed Source/Use of funds
Used for both revenues and expenditures
Unique to the State of Georgia
It is a 5 digit numeral
Class Field
Examples:
11000 General Operations
19000 Quasi Sales (Revenue received from
another department)
41100 Dept Sales/Services - General
61000 Sponsored Federal
61031 Federal Work Study
64060 Clinical Trials
Project/Grant ID (Project ID)
Identifies a specific Sponsored agreement
or a Project
Up to 15 digits in length
Generally, if code starts with Alpha, it is a
grant
If it starts with numbers, generally it is a
project
Project/Grant ID
Examples:
MERCK00001 – A Merck Pharmaceuticals
Clinical Trial
NHLBI0001 – An (NIH) National Heart,
Lung and Blood Institute Grant
0044008 – 28th Annual Opthal Symposium
Budget Reference
The Budget Year in which Revenues,
Expenses, Encumbrances and PreEncumbrances originated.
Our Year begins on July 1st and runs thru
June 30th.
The Year # is the year of the June 30th
date.
This is a 4 digit numeral.
Basics of Accounting Entries
Double entry
– Use two columns and amounts are not
distinguished by + or –
i.e., on the Cost Transfer Form
Debits and Credits
– Whether a debit or credit increases or
decreases a balance depends on the type of
account
More Debits and Credits
Method for Using Debits & Credits
– For Dividends, Expenses, Assets, and Losses
(DEAL): Debits increase while credits
decrease the balance
– Gains, Income, Revenues, Liabilities, and
Stockholder’s Equity (GIRLS): Debits
decrease while credits increase the balance.
References
Websites
– GRU Controllers Office
Go to the A-Z index, and click on C and Controller’s Division
– USG BOR Policy Manual
Go to the A-Z index, and click on C and Controller’s Division
> Popular Links
– GRU Controller’s Division > Financial Accounting &
Reporting (Chartfield Documentation)
Go to the A-Z index, and click on C and Controller’s Division
> Sections > Fin Accounting and Reporting > Financial
Accounting Documents
Conclusion
If you have any questions, regarding Accounts, Fund
Codes, Program Codes, Class Fields, and Projects, you
can call the Financial Accounting & Reporting Staff.
If you have questions, regarding Sponsored Projects,
then you can contact Sponsored Program
Administration.
If you have questions, regarding Department IDs, then
you can call Financial Information Systems and
Reporting.
Questions ?