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Chart Fields The Good, The Bad, & The Ugly

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 cash A spreadsheet with the detail for posting to General Ledger.

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Chart Fields The Good, The Bad, & The Ugly

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  1. Chart FieldsThe 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 cash • A spreadsheet with the detail for posting to General Ledger

  2. 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 stalls • Nothing on that journal posts to General Ledger

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

  4. Good Chart Field Strings • For grant transactions use • Operating Unit • Fund ID • GL account code • Department • Product • Initiative • Project ID • Activity ID

  5. Good Chart Field Strings • For other transactions (non-grant) • Operating Unit • Fund ID • GL account code • Department • Product • Initiative

  6. 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

  7. Bad Chart Field Strings • With a Department ID that begins with a 6 • Always use HSC as the operating unit • With Fund ID 10000, 10009, 13000 or 13009 • Never use GL account codes beginning with 4 • Use only expense codes (beginning with 5 or 6)

  8. 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

  9. 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

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

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