Presentation on theme: "University of Missouri"— Presentation transcript:
1University of Missouri PeopleSoft ChartFieldsOverview
2General LedgerOfficial record of University’s budgeting and financial transactionsIncludes budget and revenue/expense transactions, encumbrances, assets, liabilities and fund balancesFRS: maintains balance sheet information in General Ledger, revenue/expense transactions in Subsidiary LedgerPeopleSoft: maintains all in single ledger
3ChartFields Used to classify accounting information in PeopleSoft Nine ChartFields allow for reporting transaction detailsMultiple ChartFields allow finer level of detail for reporting purposes
4How Does This New Structure Affect You? If you process, reconcile, review, or analyze financial data, you need to be familiar with ChartFields and how your FRS accounts and subcodes map to the new ChartFields.Certain ChartFields are required on every transaction.
5FRS/Chartfield Crosswalk Translation program to convert accounting information in FRS to PeopleSoft General LedgerInitially all accounting information will be entered into FRS and converted into PeopleSoft ChartFieldsEventually all accounting information will be created in PeopleSoft
6Standard ChartFields Budget Period Business Unit Fund DeptID Project/GrantProgramAccountClassStatistics Code
7Standard ChartFields (cont’d) Not all ChartFields are required for every transactionEvery revenue/expense transaction minimally requires:Business UnitFundDeptIDAccount
9ChartField Design Fiscal Year Campus Ledger Account Sub Code FRS X X X X X X X X X X X X X X XBP BU FUND DEPTID PROJECT PROGRAM ACCOUNT CLASSFRSPeopleSoftFiscal Year Campus Ledger Account Sub CodeKBP BU FUND DEPTID PROJECT PROGRAM ACCOUNT CLASSKCITY K KEFRSPeopleSoft
10Budget Period Required field when entering budget entries One numeric character when using a project/grant budgetFour numeric characters when using an annual budgetFive alphanumeric characters when using a monthly budgetRepresents the range of time for which there is budget authority for expenditureExample: Budget for FY 2000, 0 - Project/Grant budgets, 00M01 - monthly budgets
11Business Unit Required field Represents a campus or a separate reporting entity related to the Hospitals and Clinics or within the System administrationAlpha designation is also used in following ChartFields: DeptID, Project, and Program
13FundRequired fieldUsed to classify resources according to uses and/or regulations, restrictions or limitations on the uses in compliance with the financial reporting requirements of GASB and NACUBOIncludes separate funds for unrestricted operations, auxiliaries, major service operations, enterprise-like activities, restricted and unrestricted plant operations, endowments, loans, letters of credits, retirement and agency operations
17Relax and imagine yourself in an island paradise far, far away….
18DeptID Alpha designation of Business Unit is first character Required only when recording revenues and expensesSignifies a cost centerAn organizational unit, such as the English department, may have several DeptIDs (cost centers).Trees are used to organize DeptIDs into campus organizational structures.
19DeptID (cont’d) Examples: C C are all of the DeptIDs in Campus DiningC Blair OasisC Hitt Street MarketC C are all of the DeptID’s in the Career Planning and Placement CenterC CPPC ConferenceC Career Plan Placement Center 5300
21Project Alpha designation of Business Unit is first character Type of project is second characterRequired for certain projectsUsed for activities that are temporary in duration and for which revenues and expenditures may be accumulated over more than one fiscal yearMust have defined start and end dates that may not correspond to a fiscal year
23Program Alpha designation of Business Unit is first character except for programs affecting multiple campuses which use an X as the first character to indicate cross-campus programRequired for activities to be captured for System-wide, campus-wide, or interdepartmental purposesUsed if programs require a cash balance and full balance sheetExamples:R UMR Aerospace Engineering ScholarshipS UMSL O.M. Scott LoanK UMKC Alumni Association
26AccountContains values equivalent to FRS subcodes and account controls in much greater detail
27Account (cont’d) To clarify: PeopleSoft Account = FRS Subcode PeopleSoft Fund and DeptID = FRS Account NumberPeopleSoft Human Resources Account Code = PeopleSoft GL ChartField string(BU + Fund + DeptID + Program + Project + Account)
28ClassOptional field, but individual divisions or departments may mandate its useTwo types of values:Predefined with general descriptions applicable System-wideDefined by departments with specific descriptions
30Class (cont’d)Temporary FRS Class numbers use last two digits of FRS variable subcodeExample:Subcode 5119 will show FRS19 in ClassUsed with Account to provide detailed information at division/department levelExample transaction:Account number and class EM001 would contain Employee 001’s in-state business travel
31Statistics Code Optional field Used to record statistical information for analytical and non-financial reportingNo equivalent field in FRSExamples:SFT, Square FeetPTD, Patient DaysFTE, Full Time Equivalent
32Recording Transactions To record a transaction in FRS, a combination of FRS account plus subcode must be usedTo record a transaction in PeopleSoft, a combination of ChartField values must be usedDeptID is a required ChartField only when recording revenues and expenses
36ChartField Combination Rules PeopleSoft tests validity of each keyed ChartField entry.When a combination edit rule has been established, an invalid combination of ChartFields will cause a transaction to reject and have an unposted status until corrected.
38SpeedTypeFive-character field representing a combination of ChartField valuesCombination of letters and numbersFirst character designates Business Unit of ChartField stringRemaining characters are sequentially numbered as establishedSimplifies entry of ChartFields when same set of values are commonly used together
40TreesOrganize ChartField values for setting up security, for editing, and for reportingAre effective-dated to specify new organizations, reporting relationships, or organizational structures in advance, and to take effect on an as-of dateMay have past, present, or future effective dates in order to report on current or historic data
42Controlled Budget Ledgers Organization BudgetWill track or control spending at DeptID level for expendituresSimilar to revised budget for Ledgers 2, 3 and 4 fiscal year accounts in FRSRevenue EstimateWill track and store actual revenues against estimatesSimilar to revised budget for Ledger 1 fiscal year accounts in FRS and any other revenue subcodesProject/Grant BudgetWill track or control expenditures specifically for a project or grantHas specific beginning and ending datesSimilar to project-to-date account in FRS