Monroe Community College Introduction to Banner Finance Chart of Accounts June 2004

Chart Of Accounts (COA) In MCC’s current Financial Records System (FRS), our chart of accounts consists of a ten digit number composed of three basic elements; The first digit represents the fund. An example would be 280016-4403, with the 2 representing an unrestricted or an operating account. Another example; 521351-4520 with the 5 representing a restricted funds, i.e. a grant.

Chart Of Accounts (COA) The next five digits represent the budgetary unit or department. For example 280016-4403, with 80016 representing the Accounting Services department. Another example 521351-4520, with 21351 representing the Student Support Services grant.

Chart Of Accounts (COA) The last four digits represent the expense code. For example 280016-4403, with the 4403 representing the Administrative supplies sub code. Another example 521351-4520, with the 4520 representing the Office supplies sub code.

Chart Of Accounts (COA) In BANNER Finance, (MCC’s new integrated finance software), each account is referred to as a FOAPAL What is it?

Chart Of Accounts (COA) F - Fund O - Organization A - Account P - Program A - Activity L - Location

Chart Of Accounts (COA) The Banner COA for MCC consists of 6 individual segments or FOAPAL - Fund: This is a five character numeric code that identifies a self-balancing set of accounts and identifies ownership. It is roughly equivalent to FRS general ledger as seen on Screen 18. - Organization: This is a four character numeric code that identifies a unit of budgetary responsibility, i.e. a department. It is roughly equivalent to FRS subsidiary ledger as seen on Screen 19.

Chart Of Accounts (COA) Account: This is a five character numeric code that identifies objects of expenditures such as: Wages, Fringe Benefits, Supplies. etc. It is equivalent to FRS sub codes. Program: This is a 2 character numeric code used for reporting purposes only. It enables MCC to report expenditures by function.

Chart Of Accounts (COA) The next two segments are additional features. Activity – Is a five character numeric code used to designate temporary units of work or short duration projects. Location- Is a six character alphanumeric code used to designate physical location, i.e. building and room number.

Chart Of Accounts (COA) How does the two (FRS and Banner) Chart of Accounts relate?

Chart Of Accounts (COA) Lets look at a few examples.

Accounting Services FRS: Fund Department Sub code 2 80016 4403 BANNER: Fund Organization Account Program 11001 4102 73102 70 Purchasing 2 80014 4403 11001 4104 73102 80

Student Support Services FRS: Fund Department Sub code 5 21351 4520 BANNER: Fund Organization Account Program 21710 6001 77208 40 Liberty Partnership 5 21364 4520 22516 6510 77208 20

For more information on the Chart of Accounts in SCT Banner Finance, please review Section 1 of the Banner Finance Self Service User Guide by clicking on this link: User Guide: Section 1