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e UMB Financials Chart of Accounts Orientation

e UMB Financials Chart of Accounts Orientation. Objectives . Understand the transition from FAS Accounts to e UMB Financials Chartstrings- the new COA! Understand the structure of the e UMB chart of accounts, its various components and how they work together in Financials

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e UMB Financials Chart of Accounts Orientation

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  1. eUMB FinancialsChart of Accounts Orientation

  2. Objectives • Understand the transition from FAS Accounts to eUMB Financials Chartstrings- the new COA! • Understand the structure of the eUMB chart of accounts, its various components and how they work together in Financials • Understand how chartstrings are used in transaction processing • Understand why we are implementing eUMB

  3. 6.) We like to change things around every 25 years or so.

  4. Points of Reference • Today’s presentation can be downloaded from the Financial Services Web site: http://www.fincsvc.umaryland.edu/ps/Presentations.cfm • Chartfield definitions and the list of chartfield values can be found at: http://www.fincsvc.umaryland.edu/ps/index.cfm

  5. 5.) FAS is now officially older than 50% of its users.

  6. Chart of Accounts Fundamentals • Chart of accounts • Foundation for recording financial transactions • Chartfield • An independent accounting attribute in eUMB Financials that defines one component of a Chartstring • Chartstring • A grouping of individual chartfields that in combination with each other represent a unique funding identifier where accounting/financial activity is recorded • Chartfield Trees • a graphical representation of chartfield values that facilitates ‘rollup’ reporting, security and chartfield validation

  7. Chartfields The eUMB Chartstring GLBUOwner Dept ProgramFundAccountTx. Dept Amt Project ID PCBU Act ID (Purchase/Care of Animals) (Contracts & Grants) (Community-based Child & Adol Nursing) (Family & Community Health) (Sponsored Research) (Family & Community Health) (UMB) PSUMB 00523007 08500000 152 181 3926 08500000 $$$ 00184 00 Translates to mean “UMB”, similar to the ’02’ part of the FAS account A system default Users will never have to enter Why is it important for you to know? - Because it is part of the Chartstring – that’s it!

  8. 4.) Will develop more sophisticated users.

  9. Chartfields The eUMB Chartstring GLBUOwner Dept ProgramFundAccountTx. Dept Amt Project ID PCBU Act ID (Purchase/Care of Animals) (Contracts & Grants) (Community-based Child & Adol Nursing) (Family & Community Health) (Sponsored Research) (Family & Community Health) (UMB) PSUMB 00523007 08500000 152 181 3926 08500000 $$$ 00184 00 Activity IDs will always be “00” PCBUs represent a specific type of Project ID: a federal grant, a state fund or DRIF Converted Project IDs will reference FAS account #s. New Project IDs will not! These three fields drive the auto-population of other chartfields

  10. Chartfields The eUMB Chartstring GLBUOwner Dept ProgramFundAccountTx. Dept Amt Project ID PCBU Act ID (Purchase/Care of Animals) (Contracts & Grants) (Community-based Child & Adol Nursing) (Family & Community Health) (Sponsored Research) (Family & Community Health) (UMB) PSUMB 00523007 08500000 152 181 3926 08500000 $$$ 00184 00 Department that “owns” the Project ID

  11. Chartfields The eUMB Chartstring GLBUOwner Dept ProgramFundAccountTx. Dept Amt Project ID PCBU Act ID (Purchase/Care of Animals) (Contracts & Grants) (Community-based Child & Adol Nursing) (Family & Community Health) (Sponsored Research) (Family & Community Health) (UMB) PSUMB 00523007 08500000 152 181 3926 08500000 $$$ 00184 00 Defines or categorizes financial activity Revenue & Expenses Important for Budget & Financial Reporting and A-21 Compliance

  12. Chartfields The eUMB Chartstring GLBUOwner Dept ProgramFundAccountTx. Dept Amt Project ID PCBU Act ID (Purchase/Care of Animals) (Contracts & Grants) (Community-based Child & Adol Nursing) (Family & Community Health) (Sponsored Research) (Family & Community Health) (UMB) PSUMB 00523007 08500000 152 181 3926 08500000 $$$ 00184 00 Represents the “source of funds” State, Contract & Grants, DRIF, Cost Sharing Fund etc.

  13. Chartfields The eUMB Chartstring GLBUOwner Dept ProgramFundAccountTx. Dept Amt Project ID PCBU Act ID (Purchase/Care of Animals) (Contracts & Grants) (Community-based Child & Adol Nursing) (Family & Community Health) (Sponsored Research) (Family & Community Health) (UMB) PSUMB 00523007 08500000 152 181 3926 08500000 $$$ 00184 00 Categorizes expenses and revenues “Accounts” are the PeopleSoft equivalent of FAS sub-codes “Accounts” are NOT the same as “Account Codes” in HRMS

  14. Chartfields The eUMB Chartstring GLBUOwner Dept ProgramFundAccountTx. Dept Amt Project ID PCBU Act ID (Purchase/Care of Animals) (Contracts & Grants) (Community-based Child & Adol Nursing) (Family & Community Health) (Sponsored Research) (Family & Community Health) (UMB) PSUMB 00523007 08500000 152 181 3926 08500000 $$$ 00184 00 Most of the time the Tx. Dept will be the same as Owner Dept Will differ if Dept accessing funds or supplying revenue differs from Owner Dept

  15. Chartfields The eUMB Chartstring GLBUOwner Dept ProgramFundAccountTx. Dept Amt Project ID PCBU Act ID (Purchase/Care of Animals) (Contracts & Grants) (Community-based Child & Adol Nursing) (Family & Community Health) (Sponsored Research) (Family & Community Health) (UMB) PSUMB 00523007 08500000 152 181 3926 08500000 $$$ 00184 00 Transaction amount

  16. 3.) Less data entry means less carpel tunnel operations for employees.

  17. Building Supplies • Athletic Supplies • Housekeeping Supp User entry Combo Edits Validate Dept/Program & Fund combinations Entering a Chartstring on a transaction GLBUProject IDOwner Dept ProgramFundAccountTx Dept PSUMB 00523007 08500000 152 181 3926 08500000 00184 PCBU Project ID Activity ID Default 00523007 OK Auto populated Look-up button SAVE

  18. Transition from FAS Accounts to eUMB Financials Chartstrings School of Nursing – Family and Community Health Campus Book Account Rev/Exp Code 02 1 10625 3752 GLBU Project ID Owner Dept Program Fund Account Tx Dept PCBU Activity ID PSUMB 00110625 08500000 101 116 3752 08500000 00115 00

  19. Transition from FAS Accounts to eUMB Financials Chartstrings School of Nursing – Family and Community Health “Community Based Child and Adolescent Nursing” Campus Book Account Rev/Exp Code 02 5 23007 3926 GLBU Project ID Owner Dept Program Fund Account Tx Dept PCBU Activity ID PSUMB 00523007 08500000 152 181 3926 08500000 00184 00

  20. 2.) Dr. Ramsey had an extra $5 million that was burning a hole in his pocket.

  21. 1.) Union demanded that employees’ ½ mile walk to Saratoga Garage must stop!

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