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Chart Field Combinations

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Title: Accounting 101 Module II Budget Training Author: lrc Last modified by: Janice Chancey Created Date: 10/3/2006 7:18:01 PM Document presentation format – PowerPoint PPT presentation

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Title: Chart Field Combinations


1
Chart Field Combinations
2
Purpose
  • This session is designed to provide an overview
    of Fund Accounting and its application at Georgia
    Regents University using Chart Field Combinations.

3
Objectives
  • Learn the basics of Fund Accounting
  • Learn about GRU Funds
  • Learn about Chart Field Combinations
  • Learn the basics of accounting entries

4
Agenda
  • Overview of Fund Accounting
  • GRU Funds
  • The concept of Chart Field Combinations and their
    purpose
  • Basic accounting entries using funds and chart
    field combinations

5
Basics of Fund Accounting
  • Governmental focus
  • Self-balancing set of accounts per fund
  • The basic accounting equation
  • Assets Liabilities Owners Equity
    (Revenue-Expenses)

6
Fund Accounting and the Board of Regents Example
7
GRU Funds
  • Unlimited number may be used however, limited by
    practicality
  • Other Chart Field Identifiers are used for
    reporting/further definition

8
What Are Chart Fields?
  • The Chart Field Combination (CFC) is composed of
  • Account Code
  • Fund
  • Department
  • Program
  • Class
  • Budget Period
  • Project/grant ID (if necessary)
  • The term Chart Field Combination (CFC) is a
    standard PeopleSoft term.

9
What does the CFC tell us?
  • The Chart Field Combination (CFC) are 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

10
Account Codes
  • The What
  • Descriptor of the nature of the revenue, expense,
    asset, liability or net asset (fund balance)
    accounts

11
Account Codes
  • 1XXXX Assets
  • 2XXXX Liabilities
  • 3XXXX Net Assets, Reserves
  • 4XXXX Revenues
  • 5XXXX thru 8XXXX Expenses
  • 9XXXX Allocation Transfers

12
Fund Code
  • The Where part I
  • The source or nature of the item

13
Fund Groups
  • Unrestricted Operating (1XXXX)
  • Restricted Purpose (2XXXX)
  • Loan Funds (3XXXX)
  • Endowment (4XXXX)
  • Plant (5XXXX)
  • Agency (funds held for
  • others) (6XXXX)

14
Department Code
  • The Who
  • First 2 digits represent a School or admin unit
  • The next four digits are dept defined generally
    a dept or program with the first 2 digits
  • If the first of last digit is an A, it is an
    agency code

15
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

16
Program Code Overview
  • Education General - 1XXXX
  • Auxiliary Enterprises - 2XXXX
  • Other - 3XXXX

17
Program Code Detail Education and General
  • Instruction 11XXX
  • Research 12XXX
  • Public service 13XXX
  • Academic support 14XXX
  • Student services 15XXX
  • Institutional Support 16XXX
  • Plant Operations 17XXX
  • Scholarships and Fellowships 18XXX

18
Program Code Detail Auxiliary Enterprises
  • Housing 21XXX
  • Food services 22XXX
  • Stores 23XXX
  • Health services 24XXX
  • Transportation and Parking 25XXX
  • Auxiliary Plant 26XXX
  • Other Organizations 27XXX

19
Program Code Detail Other
  • Patient care 32XXX

20
Class Code
  • 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

21
Class Code
  • Examples
  • 11000 General Operations
  • 19000 Dept Sales
  • 41100 Dept Sales
  • 61000 Sponsored Federal
  • 61031 Federal Work Study
  • 64060 Clinical Trials

22
Project/Grant 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

23
Project/Grant ID
  • Examples
  • MERCK00001 A Merck Pharmaceuticals Clinical
    Trial
  • NHLBI0001 An (NIH) National Heart, Lung and
    Blood Institute Grant
  • VAMC0001 A Veterans Affairs Medical Center IPA
    for Dr. Smith
  • 0044008 28th Annual Opthal Symposium

24
Budget Period
  • The Year in which revenues, expenses,
    encumbrances originated

25
Basics of Accounting Entries
  • Double entry
  • Use two columns and amounts are not distinguished
    by or
  • Ex. Cost Transfer Form
  • Debits and Credits
  • Whether a debit or credit increases or decreases
    a balance depends on the type of account

26
More Debits and Credits
  • Example
  • Dividend, Expense, Assets, and Losses (DEAL)
    Debits increase while credits decrease the
    balance
  • Gains, Income, Revenues, Liabilities, and
    Stockholders Equity (GIRLS) Debits decrease
    while credits increase the balance.

27
Questions/Answers
28
References
  • Websites
  • GRU Controllers Office http//www.georgiahealth.ed
    u/finance/controller/
  • USG BOR Policy Manual http//www.usg.edu/business_
    procedures_manual/

29
Conclusion
  • This concludes Chart Field Combinations
  • If you have any questions, you may contact
  • Laura Craft lcraft_at_gru.edu, 706-721-6235
  • Karen Castleberry kcastleberry_at_gru.edu,
    706-721-2135
  • Barandy Brock bbrock_at_gru.edu, 706-721-2903
  • Andrea Buchanan abuchanan_at_gru.edu, 706-721-2136
  • Julie Wilson jwilson_at_gru.edu, 706-721-9179
  • Thank you
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