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BGSU/PeopleSoft

BGSU/PeopleSoft . Meet Your FMS Chartfields. Learning Objectives. State the goal of the chartfield selection process Explain the process used to select the FMS chartfields Define the term Chart of Accounts (COA) and explain its function in financial accounting. Learning Objectives.

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BGSU/PeopleSoft

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  1. BGSU/PeopleSoft Meet Your FMS Chartfields

  2. Learning Objectives • State the goal of the chartfield selection process • Explain the process used to select the FMS chartfields • Define the term Chart of Accounts (COA) and explain its function in financial accounting

  3. Learning Objectives • List and define the AFIN legacy fields and the FMS chartfields • Discuss how the AFIN legacy fields equate to the FMS chartfields • Provide an example of the FMS chartfields applicable to your department

  4. Chartfield Design and Selection

  5. Primary Goal • Maximize ability to store meaningful data • Minimize the number of fields users must input

  6. Important Considerations • Identify BGSU Stakeholders • Consider all alternatives • Base recommendations from delivered PeopleSoft functionality • Consider federal, state, and local accountability demands • Make the best use of resources

  7. Chart of Accounts (COA)

  8. The Chart of Accounts • Made up of segments and codes • Uses segments to categorize transactions • Uses codes to identify specific transactions within segments

  9. Segments and Codes 22, 51, 01 019, 150 599 1000, 5000 6000, 7000

  10. Reviewing the AFIN Legacy Fields Account Type Fund Agency Organization Sub-Organization Expense Object Sub-Expense Object Revenue Source Sub-Revenue Source Activity Balance Sheet Account

  11. Account Type • 2-digit code • Describes type of transaction • Examples (20 Pre-encumbrance, 21 Encumbrance, 22 Expenditure)

  12. Fund • 4-digit code • Designates funding source • Examples (1000 Educational/General)

  13. Agency • 3-digit code • Denotes Vice-Presidential, College, or Departmental area • Examples (033, Romance Languages)

  14. Organization • 4-digit code • Itemizes activities within the agency • Examples ( 0470, Romance Languages; 0483, Summer in Spain)

  15. Sub-Organization • 2-digit code • Provides additional detail for the organization • Examples ( 50, Chemistry Graduate Programs; 51, Chemistry/Faculty Search)

  16. Expense Object • 4-digit code • Denotes item purchased or charged • Examples (3012, Copiers)

  17. Sub-Expense Object • 2-digit code • Provides additional detail of expenditure • Examples (02, Copier Maintenance; 03, Lease Payments)

  18. Revenue Source • 4-digit code • Denotes an income source • Examples (0210, Instructional Fees)

  19. Sub-Revenue Source • 2-digit code • Provides additional detail of income • Examples (02, Undergraduate; 03, Graduate)

  20. Activity • 4-character code • Groups transactions for reporting purposes • Examples ( Ohio Board of Regents Reporting)

  21. Balance Sheet Account • 4-digit code • Denotes the permanent accounts used to classify assets, liabilities, and equity • Examples (1001, Cash; 1200, Accounts Receivable)

  22. Previewing Your FMS Chartfields Account Type Account Class (Revenue) Fund Department Cost Center Program Project/Grant

  23. Business Unit • 5-character code • Collects all transactions relating to one federal tax identification number • BGSUN

  24. Account Type • One-digit code • Describes type of transaction • Examples (Expense, Revenue, Asset, Liability, Equity)

  25. Account • 5-digit code • Uses the account type code as its first digit • Further classifies nature of transaction • Examples (Revenue Account: Instructional Fee; Expense Account: Postage)

  26. Class (Revenue) • 3-digit code • Provides additional layer of revenue detail • Examples (Undergraduate, graduate; to further clarify instructional fee)

  27. Fund • 5-digit code • Designates the funding source • Examples (Educational/General)

  28. Department Cost Center • 6-digit code • Defines the spending authority for fiscal year transactions • Examples (President’s Office; Springboard)

  29. Program • 4-digit code • Further defines activities within Department Cost Center • Example (Art Department: Ceramics or Painting)

  30. Project/Grant • 8- digit code • 8 digits for Projects • 8 digits for Grants • Defines the spending authority for multi-year transactions • Examples (Sebo Athletic Center; Upward Bound)

  31. The Legacy Fields vs the FMS Chartfields

  32. A Framework for Comparison • Spending Authority, Revenue, and Expense Functions • Balance Sheet Functions

  33. Spending Authority, Expense, and Revenue Functions • Concern General Ledger Transactions • Purchasing • Accounts Payable • Accounts Receivable

  34. AFIN Recorded in General Ledger FMS Recorded in FMS’s Commitment Control Ledger, Not its General Ledger Pre-Encumbrance and Encumbrance Transactions

  35. Balance Sheet Functions • Handled by campus accounting personnel • Concern General Ledger transactions • What the university owns (assets) • What the university owes (liabilities) • What the university has in reserve funds (equity)

  36. Your FMS Chartfields at Work

  37. Assigning Copier Expense for Chemistry Faculty Search Appropriation Chemistry Operating 0380550O AFIN Fund 1000 Agency Chemistry 038 Org Main Oper 0550 Sub-Org Fac Search 51 E Object Copiers 3012 Sub E-Object Usage 01 FMS Fund 10000 Department Cost Center Chemistry 038100 Program Fac Search CH52 Account Copier Usage 53301

  38. Assigning Copier Expense for Upward Bound Grant Appropriation Upward Bound 4205013O AFIN Fund 4402 Agency Multicultural Prgrms 420 Org 5013 E Object Copiers 3012 Sub-E Object Usage 01 FMS Fund 40000 Project/Grant 14200009 PC Bus Activity Account Copier Usage 53301

  39. University Bookstore Balance Sheet Account AFIN Fund Bookstore 2310 Account Type Asset 01 Bal Sheet Acct Cash 1001 FMS Fund Bookstore 23310 Account Type Asset 01 Account Cash 10001

  40. Sample Department Cost Center TreeExecutive Rollup • PRESIDENT • EXECUTIVE VICE-PRESIDENT • Chief Information Officer • Information Technology Services • Instructional Media • Equity and Diversity • EVP Office/administration • University Libraries • ……. • PROVOST Range = 010100-182999 • Academic Affairs • College of Arts and Sciences Range = 020100-055999 • Special Programs • Biological Sciences • English • Chemistry Range = 038100-038999 • Chemistry Dept Operating • McMaster Institute • Mead Imaging • College of Business

  41. Summary • Chartfield Design and Selection • Chart of Accounts • Review of AFIN Legacy Fields • Preview of FMS Chartfields • Comparison of Legacy Fields and Chartfields • FMS Chartfields at Work

  42. Questions

  43. For Inquiring Minds • BG@100 - Phase I Scope Document • BG@100 - Chart of Accounts Design • http://www.bgsu.edu/BGat100 • Click on BG@100 Project Related Documents • BG@100 Email Address • BGat100@bgsu.edu

  44. Certificate of Completionis hereby granted to_______________to certify that he/she has completed to satisfactionMeet Your FMS ChartfieldsDate Completed: Supervisor Signature and Title

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