Introduction to chartfields
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Introduction to Chartfields. What is a Chart of Accounts?. System of organizing and identifying the campus’s funds Created and maintained by central Finance departments (Controller’s, Budget, Office of Research and Sponsored Programs) Provides a structure for financial reporting.

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What is a chart of accounts l.jpg
What is a Chart of Accounts?

  • System of organizing and identifying the campus’s funds

  • Created and maintained by central Finance departments (Controller’s, Budget, Office of Research and Sponsored Programs)

  • Provides a structure for financial reporting


Peoplesoft chart of accounts l.jpg
PeopleSoft Chart of Accounts

  • Each pot of money is identified by several pieces of information, called chartfields

  • The set of chartfields is collectively referred to as a “chartfield string” or “chartstring”


Where did it come from l.jpg
Where did it come from?

Chartfields provide information about the pot of money

What can it be used for?

Who controls it?


Why do you need to know about chartfields l.jpg
Why Do You Need To Know About Chartfields?

  • Used in Personnel Action forms, travel vouchers and other campus forms

  • Used to look up account balances, to make a purchase, to reallocate Procard expenditures, to organize information in financial reports


Chart of accounts the chartfield string l.jpg
Chart of Accounts:The Chartfield String

Business Unit

Project/Grant

Department

Account

Program

Fund

Class

UMBOS

53102

B008300000

A00

S00003020900000

734200

Chartfield - The individual components, or fields, that when combined make up the Chartfield String.

6


Chart of accounts business unit l.jpg
Chart of Accounts:Business Unit

UMBOS

Identifies UMass

Identifies Individual Campuses

5 characters

Business Unit – Identifies data belonging to the Boston campus

Department

Project/Grant

Business

Unit

Program

Account

Fund

Class

53102

B008300000

A00

S00003020900000

734200

UMBOS

7


Chart of accounts fund l.jpg
Chart of Accounts:Fund

Further detail fund breakdown

1 = State Funds

2 = Non-State Funds

5 = External Grant Funds

GASB classifications

i.e. Restricted, Unrestricted, Loan, Plant, Endowment, Agency

53102

5 characters

Fund – Identifies a particular pot of money, such as the Curriculum Trust Fund (21005) or the State Maintenance Appropriation (11000) or Federal Grants & Contracts (53102)

Department

Business

Unit

Project/Grant

Program

Account

Fund

Class

UMBOS

B008300000

A00

S00003020900000

734200

53102

8


Chart of accounts department l.jpg
Chart of Accounts:Department

Campus Identifier

Cost Center

Sub-Department

Department

B008300000

10 characters

Department – Identifies a particular department or budgetary subset of a department

Project/Grant

Department

Business

Unit

Program

Account

Fund

Class

B008300000

UMBO

53102

A00

S00003020900000

734200


Chart of accounts program l.jpg
Chart of Accounts:Program

GASB Expenditure Classification

A00

3 characters

Program – A standardized code indicating how the money is being used (e.g., for instruction, research, etc.). Used for external financial reports.

Project/Grant

Department

Business

Unit

Program

Account

Fund

Class

UMBOS

53102

B008300000

S00003020900000

734200

A00


Chart of accounts project grant l.jpg
Chart of Accounts:Project/Grant

Further definition of project or grant

Examples:

A = Financial Aid

E = State Specials, Gift Funds,

Departmental Service Fund

F = Facility Projects

P = Other Campus Projects

S = Sponsored Agreements

S00003020900000

15 characters

Project/Grant – Used to identify a sponsored project (a grant administered by ORSP) or a non-sponsored project, such as a Facilities project or an internal grant awarded to staff or faculty.

Project/Grant

Department

Business

Unit

Program

Account

Fund

Class

UMBOS

53102

B008300000

A00

S00003020900000

734200


Chart of accounts class l.jpg
Chart of Accounts:Class

5 characters

Class – UMB does not use this field; it will be blank.

Department

Project/Grant

Business

Unit

Program

Account

Fund

Class

UMBOS

53102

B008300000

A00

S00003020900000

734200


Chartfields used to identify departmental funds l.jpg
Chartfields Used to Identify Departmental Funds

  • Business Unit (GL Unit, Set ID)

  • Department

  • Fund

  • Program

  • Project/Grant (in specific cases)


Related fields l.jpg
Related Fields

  • SpeedType:

    • A six-digit, randomly generated number used as a shortcut for a particular chartfield string.

    • Can be entered in various PeopleSoft pages in place of the entire chartfield string.

    • A timesaver.

    • Called “SpeedChart Key” in Requisition

  • HR Account Code:

    • Consists of the speedtype with a B in front of it.

    • Used on Personnel Action forms.

    • Generated only for those chartfield strings used for payroll purposes.


Chart of accounts account l.jpg
Chart of Accounts:Account

1 = Asset

2 = Liability

3 = Fund Balance

4 = Fund Addition

5 = Fund Deduction

6 = Revenue

7 = Expenditure

Detail Item – e.g., Office & Administrative Supplies

734200

6 characters

Account – Used to identify type of goods or services in a requisition and a purchase order. Used to organize information in monthly reports.

Department

Business

Unit

Project/Grant

Program

Account

Fund

Class

734200

UMBOS

53102

B008300000

A00

S00003020900000


How to locate your department s chartfields l.jpg
How to Locate Your Department’s Chartfields

  • Navigate to inside.umassadmin.net

  • Click on Finance

  • Point to Reference and click on Chartfield Lookup

  • Select Business Unit = UMBOS

  • Enter your Department ID (B + first 4 digits)

  • Click on Get Data