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Monroe Community College Introduction to Banner Finance Chart of Accounts
June 2004
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Chart Of Accounts (COA)
In MCC’s current Financial Records System (FRS), our chart of accounts consists of a ten digit number composed of three basic elements; The first digit represents the fund. An example would be , with the 2 representing an unrestricted or an operating account. Another example; with the 5 representing a restricted funds, i.e. a grant.
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Chart Of Accounts (COA)
The next five digits represent the budgetary unit or department. For example , with representing the Accounting Services department. Another example , with representing the Student Support Services grant.
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Chart Of Accounts (COA)
The last four digits represent the expense code. For example , with the 4403 representing the Administrative supplies sub code. Another example , with the 4520 representing the Office supplies sub code.
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Chart Of Accounts (COA)
In BANNER Finance, (MCC’s new integrated finance software), each account is referred to as a FOAPAL What is it?
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Chart Of Accounts (COA)
F - Fund O - Organization A - Account P - Program A - Activity L - Location
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Chart Of Accounts (COA)
The Banner COA for MCC consists of 6 individual segments or FOAPAL - Fund: This is a five character numeric code that identifies a self-balancing set of accounts and identifies ownership. It is roughly equivalent to FRS general ledger as seen on Screen 18. - Organization: This is a four character numeric code that identifies a unit of budgetary responsibility, i.e. a department. It is roughly equivalent to FRS subsidiary ledger as seen on Screen 19.
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Chart Of Accounts (COA)
Account: This is a five character numeric code that identifies objects of expenditures such as: Wages, Fringe Benefits, Supplies. etc. It is equivalent to FRS sub codes. Program: This is a 2 character numeric code used for reporting purposes only. It enables MCC to report expenditures by function.
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Chart Of Accounts (COA)
The next two segments are additional features. Activity – Is a five character numeric code used to designate temporary units of work or short duration projects. Location- Is a six character alphanumeric code used to designate physical location, i.e. building and room number.
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Chart Of Accounts (COA)
How does the two (FRS and Banner) Chart of Accounts relate?
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Chart Of Accounts (COA)
Lets look at a few examples.
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Accounting Services FRS: Fund Department Sub code BANNER: Fund Organization Account Program Purchasing
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Student Support Services
FRS: Fund Department Sub code BANNER: Fund Organization Account Program Liberty Partnership
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For more information on the Chart of Accounts in SCT Banner Finance, please review Section 1 of the Banner Finance Self Service User Guide by clicking on this link: User Guide: Section 1
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