Chart Fields The Good, The Bad, & The Ugly  Chart field values drive all financial transactions  It all begins with what you provide the Foundation 

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Presentation transcript:

Chart Fields The Good, The Bad, & The Ugly  Chart field values drive all financial transactions  It all begins with what you provide the Foundation  The Foundation gives General Accounting An electronic transfer of the cashAn electronic transfer of the cash A spreadsheet with the detail for posting to General LedgerA spreadsheet with the detail for posting to General Ledger

What Happens with Bad Chart Fields  Transactions are posted to General Ledger using journals  Journals contain a batch of similar transactions for the day  Journals may contain up to hundreds of lines  If one chart field on one line is not correct The entire journal stallsThe entire journal stalls Nothing on that journal posts to General LedgerNothing on that journal posts to General Ledger

There are Appropriate and Inappropriate Combinations of Chart Fields  We use a feature called combination editing Aka Combo EditAka Combo Edit  If an inappropriate combination of values is used the transaction will fail and the journal will not post

Good Chart Field Strings  For grant transactions use Operating UnitOperating Unit Fund IDFund ID GL account codeGL account code DepartmentDepartment ProductProduct InitiativeInitiative Project IDProject ID Activity IDActivity ID

Good Chart Field Strings  For other transactions (non-grant) Operating UnitOperating Unit Fund IDFund ID GL account codeGL account code DepartmentDepartment ProductProduct InitiativeInitiative

Bad Chart Field Strings  Never use a GL account code beginning with 7  Never use a GL account code beginning with 8  Never use a GL account code beginning with 3

Bad Chart Field Strings  With a Department ID that begins with a 6 Always use HSC as the operating unitAlways use HSC as the operating unit  With Fund ID 10000, 10009, or Never use GL account codes beginning with 4Never use GL account codes beginning with 4 Use only expense codes (beginning with 5 or 6)Use only expense codes (beginning with 5 or 6)

You Must Have Budget on the Chart Field String  If there is no budget, the transaction fails  If there is insufficient budget, the transaction fails  If the project has ended, the transaction fails

You Must Have Budget on the Chart Field String  You will be notified if the transaction fails  If budget is the reason, work with the Budget Office to clear the error

Find Help From  Cheryl Tanner (General Accounting)  Tony Alvarez (General Accounting)  Mark De Vore (Controller’s Office)