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Chart of Accounts

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Chart of Accounts The Chart of Accounts (COA), is a six segment structure that is used in the P2P and new General Ledger system The COA determines how your accounting ... – PowerPoint PPT presentation

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Title: Chart of Accounts


1
Chart of Accounts
2
Chart of Accounts
  • The Chart of Accounts (COA), is a six segment
    structure that is used in the P2P and new General
    Ledger system
  • The COA determines how your accounting
    information is collected, categorized and stored
    for reporting purposes
  • Each account is made up of 6 unique segments and
    all 6 segments together are known as the
    Accounting Flexfield
  • The six segments are Fund Group, Fund Source,
    Organization, Natural Account, Project and Future
    Use
  • The Accounting Flexfield (AFF) combination is
    your COA structure
  • Each financial transaction is tagged with an AFF
    combination and identifies information about the
    transaction

3
Chart of Accounts
  • The COA is displayed with a dash between segment
    values.
  • Example 00-200004-10469-21000-000000-000

Segment Example
Fund Group 00 General Funds
Fund Source 200004 Division of Accounting
Organization 10469 Controller, Assoc
Natural Account 21000 Supplies, Other
Project 000000 Project
Future Use 000 Future Use
4
Segment Definitions Fund Group
  • 2 digit number
  • Will default to zeroes in the new General
    Ledger
  • 00 (General Funds) will be used by the Field
    for State, Grant, Unrestricted, Restricted, Loan
    and Endowment Operating Fund Sources
  • 06 and 17 will be used by Central Accounting
    for Endowment and BOG Construction/RR Fund
    Sources
  • 07 will be used by Central Accounting,
    Facilities and some departments for Plant Fund
    construction Fund Sources

5
Segment DefinitionsFund Source
  • 6 digit number
  • Relates to our current six character account
    number

6
Segment Definitions Organization
  • 5 digit number
  • Relates to department
  • Identifies whose transaction it is

7
Segment Definitions Natural Account
  • 5 digit number
  • Identifies the nature of the transaction
  • Relates to our four digit object code or sub
    code in the legacy General ledger
  • Object codes General Ledger accounts
  • Sub codes Subsidiary Ledger accounts
  • The 4 digit General Ledger object codes have a
    zero at the beginning in the new Oracle system
  • example-02460 Accounts Payables
  • The 4 digit Subsidiary Ledger sub codes have a
    zero at the end in the new Oracle system
  • example-21000 Supplies-Other
  • Examples of Revenue/ Expense Natural Accounts
    posted to a Fund Source are Student Tuition,
    Federal or State Grant and Contract Revenue,
    Supplies, Other Services, etc.

8
Segment Definitions Project and Future Use
  • Project 6 digit number
  • Placeholder for Grants module
  • Future Use 3 digit number
  • Placeholder if we need to add a segment in the
    future
  • Will default to zeroes in the new General Ledger

9
P2P
  • Currently this COA structure is used in the P2P
    application. When you create a requisition each
    segment of the COA has to be populated with
    segment values
  • Fund Group, Project and Future Use segments
    default to zero
  • Preparers have to populate the Fund Source,
    Organization and Natural Account segments

10
Journal Entry
  • The new General Ledger will have Excel
    templates that can be used to create a journal
    entry
  • The new COA structure will be used on the
    journal templates
  • When you create a journal entry, each segment
    of the COA will have to be populated with segment
    values
  • Fund Group, Project and Future Use segments
    default to zero
  • If invalid COA combinations are entered, the
    General Ledger application will flag the error

11
Reporting Attributes
  • Reporting Attributes are used in the General
    Ledger to capture additional descriptive
    information along with the COA and to report on
    this information
  • The Reporting Attributes will be used to group
    accounting transactions for financial reporting
  • Twenty Reporting Attributes have been defined by
    Central Accounting
  • DCGA has identified another twenty-five
    attributes that will be sent from SPAN to the new
    financial warehouse for reporting or information
    only purposes
  • Reporting Attributes may be used as parameters to
    narrow down the results on a report

12
Central Accounting Reporting Attribute Definitions
Reporting Attribute Assigned to the Natural Account Definition
Natural Account Type Identifies whether a Natural Account, formerly Sub Code, is Revenue, Expense, Asset, Liability, Beginning Balance or Transfer Type. May be useful to the field
Reporting Attribute Assigned to the Fund Source Definition
Extended Budg Resp Code The extended 9 character version of the budget responsibility code. May be useful to the field
Accountant Code Designates which accountant under the University Controller is responsible for the reconciliation of this Fund Source. May be useful to the field
Fund Source Classification Code Used to break out the Fund Source types (State, Unrestricted, Restricted, Endowment, Loan, Plant and Grant) Fund Sources in finer detail. May be useful to the field
Balance Sheet Code This attribute specifies the major funding source for this Fund Source. Used for roll up reporting breakdowns by Fund Source in programs.
13
Central Accounting Reporting Attribute Definitions
Reporting Attribute Assigned to the Fund Source Definition
Cash Flow Code To identify Fund Sources for Cash Flow Reporting purposes. The Cash Flow Code is currently populated on Fund Sources with cash transactions via Discoverer and Access.
Income Code A code that denotes the source of income.
Function Code Code used to classify expenses by function.
A21 Code used for FA proposal development.
Campus Code Fund Sources are assigned a campus code based on geographic location and designated budget responsibility. May be useful to the field
Fund Source Purpose A free form field of 240 characters used to indicate the purpose of the Fund Source, formerly Account. May be useful to the field
Endowment Fund Type A code which indicates the type of endowment for reporting purposes.
Year End Endowment Operating Code This code indicates the treatment of the 6/30 balance in the endowment operating Fund Sources.
14
Central Accounting Reporting Attribute Definitions
Reporting Attribute Assigned to the Fund Source Definition
Auxiliary Code Identifies auxiliary Fund Sources.
Athletic Code Assigned to athletic Fund Sources to identify them as being revenue or non-revenue as well as identifying sports themselves such as, Football, and Mens and Womens Basketball.
NSF Code NSF Code is used for survey purposes. A 4 digit NSF number. Identifies the actual discipline of the project.
Sub Element Code Attribute assigned to all state Fund Sources that groups similar types of activities as determined by the State of NJ.
Working Budget Reclass Fund Source Attribute assigned to state fund source that determines the action to be taken to the fund source as it relates to reports using the working budget reclass.
Budget Action Code Attribute assigned to a state fund source that determines the action to be taken to the fund source as it relates to the budget analyst control report.
15
Central Accounting Reporting Attribute Definitions
Reporting Attribute Assigned to the Fund Source Definition
Physical Plant Code This attribute summarizes expenses at the building level such as at the major dept level. Facilities uses for fuel utility purposes and to calculate balances by campus.
Sales Tax Fund Source This attribute represents the GL Fund Source in which collected NJ sales tax is deposited to for taxable sales made from operations of the Fund Source.
16
DCGA Reporting Attribute Definitions
Reporting Attribute Definition
Administering Fund Source Fund Source number which represents the administrative unit who will be receiving the FA return based upon the information submitted with the proposal.
Administrative Unit Code which designates the academic unit responsible for the day-to-day administration of the award and the information submitted with proposal documents.
Animal Protocol Exp Date - (For Future Use) Date the current approved animal protocol expires.
Award End Date The official end date of the approved budget period for which funding is provided.
CFDA Number Denotes the Catalog of Federal Domestic Assistance (CFDA) number.
Co-Prin Investigator 1 Rutgers employee who is noted on the fully executed award document as Co-PI.
17
DCGA Reporting Attribute Definitions
Reporting Attribute Definition
Co-Prin Investigator 2 Rutgers employee who is noted on the fully executed award document as Co-PI.
Co-Prin Investigator 3 Rutgers employee who is noted on the fully executed award document as Co-PI.
Cost-Sharing Indicator Denotes if the award has cost sharing. Format YYes, NNo
Cumulative Award Amount Denotes the total award amount authorized by the sponsor for the project period-to-date.
Equipment Ownership Code Denotes whether capital equipment purchased under a sponsored agreement is owned by RU or the sponsor. Format 2 digits alpha numeric. Values A1RU owned (RU funded less RU funded Federal cost sharing purchases), A2 RU owned Federally funded (including Federal pass through awards) plus RU funded cost sharing purchases., A3 RU owned (SNJ funded), A4 RU owned (Other Non-Rutgers funded), B1 Federally owned, C1 SNJ owned, D1 Other Non-Rutgers owned.
18
DCGA Reporting Attribute Definitions
Reporting Attribute Definition
FA Base Designates the type of Facilities Administrative (FA) cost base that is approved for the award. Format 1 digit alpha E Exceptions, MMTDC (Modified Total Direct Cost), TTDC (Total Direct Cost), ZNo FA to be charged.
FA Base Adjust Indicator Attribute field allows the inclusion or exclusion of expense subcodes to the approved/previously selected FA Base. Format 1 digit numeric 7Include or 8Exclude.
FA Incl/Excl Natural Accounts Eight Numeric fields currently exist to input specific subcodes to be included/excluded from the FA base for FA calculation.
FA Percentage This field shows the FA rate that will be applied to the award. Format 4 digits numeric (i.e., 5 0500).
Final Billing Days Denotes number of days after the award end date that the final invoice is due to the sponsoring agency. Format 3 digits numeric.
19
DCGA Reporting Attribute Definitions
Reporting Attribute Definition
Final Reporting Days Denotes number of days after the award end date that the final financial report is due to the sponsoring agency. Format 3 digits numeric.
Grant/Contract Number Denotes the Grant or Contract number assigned by the sponsor.
Hold Fund Source Indicator A 1-digit indicator that denotes that the Fund Source being established is based on the sponsor's letter of intent and is not supported by a fully executed sponsored agreement. Format YYes, NNo
Human Protocol Exp Date - (For Future Use) Date the current human subject protocol expires.
Personnel Activity Report (PAR) Code Indicator A 1-digit alpha field that indicates if the award is subject to effort certification reports. Format YYes, NNo, CCost Share Fund Source
20
DCGA Reporting Attribute Definitions
Reporting Attribute Definition
Principal Investigator An active Rutgers employee who is noted on the fully executed award document and is responsible for award's activities.
Sponsor Code Code which designates the funding agency that granted the award to Rutgers University. Format 5 digits numeric. (Note First digit of code designates type of sponsor 0-Federal Govt., 1-State Govt., 2-Local Govt., 3-Corporations, 4-Foundations, 5-Associations and Other 6-Institutions of Higher Education 8-Various Corporate Grants-in-Aid) 9-Foreign Sponsors.
Sponsor Name - (For Future Use) Direct Source of project or budget funding. (Currently identified in the Fund Source title.)
Type of Funding A 2 digit code which identifies the method of payment/payment procedure or letter of credit (LOC). Format 2-digits numeric (I.e., 01- NSF LOC, 13-Cost Reimbursement, etc.).
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