chart of accounts wesleyan financial system. goals ease of use for end user departments consistent...
TRANSCRIPT
CHART OF ACCOUNTS
WESLEYAN FINANCIAL SYSTEM
GOALSEase of use for end userDepartments consistent with HRMSProvide a conversion crosswalkAccommodate current security
requirementsReport at both the department and
university level
CHARTFIELDSFRS Existing
PEOPLESOFT Available
Account – G/L and S/LObject Code – G/L and
S/LAttributes
Account GroupExecutive LevelBudget CenterDepartmentSub-DepartmentFund GroupAICPA CodeExpense Purp/Revenue
SourceOthers
Account - RequiredOperating UnitFund - RequiredDepartmentProgramClassProjectScenario13 more plus
attributes
FRS Chart of Accounts
LEDGER
ACCOUNT
OBJECT CODE
Used for multiple purposes based on
cost breakdown requirements
Type of expense
Peoplesoft Chart of Accounts – 4Ws
FUND(Where
)
DEPARTMENT
(Who)
ACCOUNT(What)
Used for multiple purposes based on
cost breakdown requirements
Type of expense
PROGRAM OR
PROJECT(Why)
ACCOUNTRequired
Description ExamplesNature of the
transaction (asset, liability, revenue or expense)
Equivalent to current FRS object codes
Retains current values to some extent with an additional leading digit
0 – 2 Assets3 – 4 Liabilities5 – Fund Balance
7 – Revenues8 – Expenses
Value Description70100 Undergrad
Tuition70370 Library Fines81200 Admin
Salaries82100 Office
Supplies84505 Airfare
FUNDRequired
Description Examples
Source of fundingTracks spending
restrictions and designations
Categorizes balances for external reporting
Values are alpha characters vs. numerical in other fields
Value DescriptionOP Operating BudgetCA Capital BudgetGU Unrestricted GiftsGT Temporarily Rest
GiftsGP Permanently Rest
GiftsEN EndowmentsGR Grant
DEPARTMENTRequired
Description Examples
Tracks information organizationally and indicates who is responsible for a transaction
Will not have intelligence built into the values due to changes in reporting structure
Basis is HRMS department tree
Value Description1095 Finance1015 Music2501 Biology3100 Admissions
PROGRAMRequired or Not Required
Description Examples
Provides flexibility in tracking financial activity within a department
Values repeat Fund and Department for ease of use (definitions, feeds)
000 is general, 001 – 999 department specific
Value DescriptionOP 1095 000 Finance General
OP 1095 001 Finance – Financial System
OP 3100 000 Admissions
OP 3100 001 Admissions Smith Travel
GR 3100 000 Admissions Gift
EN 3100 000 Admissions Endowment
PROJECTRequired or Not Required
Description ExamplesProjects and grantsAll current accounts
beginning with a 5 (Grants) or a 7 (Capital) will go into Project
Value is random using “Next”
Provides additional functionality unique to project accounting (i.e. activity, fund source, life)
Value DescriptionGR0000250 Finance Grant
CA0000251 Finance Capital Project
CROSSWALK FINANCE OFFICE SUPPLIES
Where Who Why WhatFRS Ledger Account Object
Code2 50210 2100
WFS FundDept Program AccountOP 1095 OP 1095 000 82100
CROSSWALK FINANCE OFFICE RESTRICTED GIFT
Where Who Why WhatFRS Ledger Account Object
Code6 30340 0262
WFS FundDept Program AccountGT 1095 GT1095000 70262
CROSSWALK FINANCE OFFICE CAPITAL PROJECT
Where Who Why WhatFRS Ledger Account Object
Code7 25410 3900
WFS FundDept Project AccountCA 1095 CA0000250 83900
CROSSWALK FINANCE OFFICE GRANT
Where Who Why WhatFRS Ledger Account Object
Code5 20644 3100
WFS FundDept Project AccountGR 1095 GR0000251 83100