University of Missouri PeopleSoft ChartFields Overview

General Ledger Official record of University’s budgeting and financial transactions Includes budget and revenue/expense transactions, encumbrances, assets, liabilities and fund balances FRS: maintains balance sheet information in General Ledger, revenue/expense transactions in Subsidiary Ledger PeopleSoft: maintains all in single ledger

ChartFields Used to classify accounting information in PeopleSoft Nine ChartFields allow for reporting transaction details Multiple ChartFields allow finer level of detail for reporting purposes

How Does This New Structure Affect You? If you process, reconcile, review, or analyze financial data, you need to be familiar with ChartFields and how your FRS accounts and subcodes map to the new ChartFields. Certain ChartFields are required on every transaction.

FRS/Chartfield Crosswalk Translation program to convert accounting information in FRS to PeopleSoft General Ledger Initially all accounting information will be entered into FRS and converted into PeopleSoft ChartFields Eventually all accounting information will be created in PeopleSoft

Standard ChartFields Budget Period Business Unit Fund DeptID Project/Grant Program Account Class Statistics Code

Standard ChartFields (cont’d) Not all ChartFields are required for every transaction Every revenue/expense transaction minimally requires: Business Unit Fund DeptID Account

Chart of Accounts

ChartField Design Fiscal Year Campus Ledger Account Sub Code FRS X X X X X X X X X X X X X X X BP BU FUND DEPTID PROJECT PROGRAM ACCOUNT CLASS FRS PeopleSoft Fiscal Year Campus Ledger Account Sub Code 2 0 0 0 K 3 4 8 3 0 0 3 8 0 0 BP BU FUND DEPTID PROJECT PROGRAM ACCOUNT CLASS 2 0 0 0 KCITY 0445 K0909081 KE000032 724700 FRS PeopleSoft

Budget Period Required field when entering budget entries One numeric character when using a project/grant budget Four numeric characters when using an annual budget Five alphanumeric characters when using a monthly budget Represents the range of time for which there is budget authority for expenditure Example: 2000 - Budget for FY 2000, 0 - Project/Grant budgets, 00M01 - monthly budgets

Business Unit Required field Represents a campus or a separate reporting entity related to the Hospitals and Clinics or within the System administration Alpha designation is also used in following ChartFields: DeptID, Project, and Program

Business Unit (cont’d)

Fund Required field Used to classify resources according to uses and/or regulations, restrictions or limitations on the uses in compliance with the financial reporting requirements of GASB and NACUBO Includes separate funds for unrestricted operations, auxiliaries, major service operations, enterprise-like activities, restricted and unrestricted plant operations, endowments, loans, letters of credits, retirement and agency operations

Fund (cont’d)

Fund (cont’d)

Fund (cont’d)

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DeptID Alpha designation of Business Unit is first character Required only when recording revenues and expenses Signifies a cost center An organizational unit, such as the English department, may have several DeptIDs (cost centers). Trees are used to organize DeptIDs into campus organizational structures.

DeptID (cont’d) Examples: C0705001-C0705999 are all of the DeptIDs in Campus Dining C0705004 Blair Oasis C0705008 Hitt Street Market C0710001-C0710999 are all of the DeptID’s in the Career Planning and Placement Center C0710011 CPPC Conference C0710015 Career Plan Placement Center 5300

DeptID (cont’d)

Project Alpha designation of Business Unit is first character Type of project is second character Required for certain projects Used for activities that are temporary in duration and for which revenues and expenditures may be accumulated over more than one fiscal year Must have defined start and end dates that may not correspond to a fiscal year

Project

Program Alpha designation of Business Unit is first character except for programs affecting multiple campuses which use an X as the first character to indicate cross-campus program Required for activities to be captured for System-wide, campus-wide, or interdepartmental purposes Used if programs require a cash balance and full balance sheet Examples: R0003 - UMR Aerospace Engineering Scholarship S6012 - UMSL O.M. Scott Loan K7007 - UMKC Alumni Association

Program

Program (cont’d)

Account Contains values equivalent to FRS subcodes and account controls in much greater detail

Account (cont’d) To clarify: PeopleSoft Account = FRS Subcode PeopleSoft Fund and DeptID = FRS Account Number PeopleSoft Human Resources Account Code = PeopleSoft GL ChartField string (BU + Fund + DeptID + Program + Project + Account)

Class Optional field, but individual divisions or departments may mandate its use Two types of values: Predefined with general descriptions applicable System-wide Defined by departments with specific descriptions

Predefined Classes

Class (cont’d) Temporary FRS Class numbers use last two digits of FRS variable subcode Example: Subcode 5119 will show FRS19 in Class Used with Account to provide detailed information at division/department level Example transaction: Account number 721100 and class EM001 would contain Employee 001’s in-state business travel

Statistics Code Optional field Used to record statistical information for analytical and non-financial reporting No equivalent field in FRS Examples: SFT, Square Feet PTD, Patient Days FTE, Full Time Equivalent

Recording Transactions To record a transaction in FRS, a combination of FRS account plus subcode must be used To record a transaction in PeopleSoft, a combination of ChartField values must be used DeptID is a required ChartField only when recording revenues and expenses

Revenue/Expense Transactions

Revenue/Expense Transactions (cont’d)

Asset/Liability Transactions

ChartField Combination Rules PeopleSoft tests validity of each keyed ChartField entry. When a combination edit rule has been established, an invalid combination of ChartFields will cause a transaction to reject and have an unposted status until corrected.

ChartField Edits

SpeedType Five-character field representing a combination of ChartField values Combination of letters and numbers First character designates Business Unit of ChartField string Remaining characters are sequentially numbered as established Simplifies entry of ChartFields when same set of values are commonly used together

SpeedType

Trees Organize ChartField values for setting up security, for editing, and for reporting Are effective-dated to specify new organizations, reporting relationships, or organizational structures in advance, and to take effect on an as-of date May have past, present, or future effective dates in order to report on current or historic data

Controlled Budget Ledgers Organization Budget Will track or control spending at DeptID level for expenditures Similar to revised budget for Ledgers 2, 3 and 4 fiscal year accounts in FRS Revenue Estimate Will track and store actual revenues against estimates Similar to revised budget for Ledger 1 fiscal year accounts in FRS and any other revenue subcodes Project/Grant Budget Will track or control expenditures specifically for a project or grant Has specific beginning and ending dates Similar to project-to-date account in FRS

Questions? Contact your campus accounting department.

Need to contact ASP? E-mail: ASPTraining@umsystem.edu Voice Mail: (573) 884-2707 Campus Mail: 1805 East Walnut, Columbia FAX: (573) 884-3070 On the Web: http://asp.umsystem.edu