FAST Chartfield Tips

FAST Chartfield Tips

Building a Chartfield String How we code accounting transactions

Operating Unit o Identifies a USF campus Operating Unit (OU) TPA Tampa STP St. Petersburg SAR Sarasota HSC USF Health FIO Florida Institute of Oceanography UNV University wide operating unit (for central use only) 3

Fund ID (5 Digits with a logic) o Identifies the funding source “0”xxxx “1”xxxx “2”xxxx “3”xxxx “5”xxxx “6”xxxx “7”xxxx “8”xxxx “9”xxxx auxiliary; generated from a business activity mainly E&G or Lottery Trust Funds restricted; research funding, chairs, financial aid loan funds; mainly student loans capital projects; construction funding renewal and replacement (reserved funds) debt service; payment of bonds issued capital asset; property, equipment, buildings agency and convenience funds Fund ID 4

Fund ID – Additional logic embedded o Funds beginning with a “0” (auxiliaries) Funds beginning with a “06” Funds beginning with a “07” Sarasota/Manatee St. Petersburg o Even more logic in the third digit Funds beginning with a “010xx” Funds beginning with a “011” Funds beginning with a “012” Funds beginning with a “013” Funds beginning with a “015” Arts and Sciences Business Administration Education Engineering USF Health/Medicine 5

Fund ID – Logic in the second digit o Funds beginning with a “1” Funds beginning with a “10, 12, or 13” E&G state funding 10000 - current year E&G funding 10009 - carryover of prior year E&G funding Funds beginning with a “11” Student Fee Trust Fund Funds beginning with a “17” Financial aid Funds beginning with a “183” RIA funding o Funds beginning with a “2” (generally grants but also others) Funds beginning with a “20” Federal funding source Funds beginning with a “21” State of Florida funding source Funds beginning with a “22” Private funding source Funds beginning with a “24” Endowed chairs Funds beginning with a “25” Student government Funds beginning with a “27” Financial aid 6

Operating Unit (OU) Fund ID 7

Account Code (GL – General Ledger) o Referred to as Chart of Accounts in accounting world o Accounts beginning with “1” assets appear on balance sheet “2’ liabilities appear on balance sheet “3” equity appear on balance sheet and never used in an accounting entry “4” revenue appear on the income statement “5’ expenses appear on the income statement “6” expenses appear on the income statement “7” interdepartmentalappear on the income statement “8” budget appear on RSA report and the income statement GL Account Code 8

Account Code – Additional logic o Accounts beginning with a “1” Assets Accounts beginning with a “10” Cash accounts Accounts beginning with a “11” Investments Accounts beginning with a “12” Accounts Receivable o Accounts beginning with a “5” or “6” Expenses Accounts beginning with a “50” Salary and benefits Accounts beginning with a “60” Travel expense o Accounts beginning with a “4” Revenue Accounts beginning with a “40 or 41” Student revenue Accounts beginning with a “42” Grant revenue Accounts beginning with a “44” Commercial revenue o Accounts beginning with a “7” Interdepartmental actions Accounts beginning with a “74” Revenue to selling department Accounts beginning with a “75” Expense to buying department 9

Chartfields and DSO’s o Financial activity occurs between USF and the DSO’s o These are transfers in and out for USF o They must be reported separately on the USF financial statement o Specific GL account coding is required 10

Chartfields and DSO’s o A unique GL account code series is used For transfers into USF 49701 49702 49703 49704 49705 49706 49707 49708 49710 USF Foundation USF Alumni Association USF Research Foundation USF Medical Services Support Corporation USF University Medical Service Association USF Sun Dome USF Finance Corporation USF Property Corp. USF Health Professions Conferencing Corporation 11

Chartfields and DSO’s o A unique GL account code series is used For transfers out from USF 69701 69702 69703 69704 69705 69706 69707 69708 69710 USF Foundation USF Alumni Association USF Research Foundation USF Medical Services Support Corporation USF University Medical Service Association USF Sun Dome USF Finance Corporation USF Finance Corp. USF Health Professions Conferencing Corporation 12

Good Resources for Expense Codes For more definition of expense and revenue GL account codes explore the UCO web site o Under Library of Resources find the “Expense Account Code Descriptions” “USF Expenditure Guide” “Reference Guide for Revenue” 13

Operating Unit (OU) Fund ID GL Account Code 14

Department ID o Department ID has embedded logic; first two digits Six digits identifying a specific department Beginning with a “0xxxxx” Beginning with a “12xxxx” Beginning with a “14xxxx” Beginning with a “6xxxxx” Beginning with a “5820xx” Central and Administrative Arts and Sciences Business Administration USF Health College of Behavioral/Community Sciences Department ID o Within USF Health More definition in the second through fourth digits Beginning with a “61xxxx” Beginning with a “6119xx” Beginning with a “62xxxx” Beginning with a “63xxxx” College of Medicine College of Medicine/Pediatrics department College of Nursing College of Pharmacy 15

Product o A more detailed classification of the revenue and expense o Will be created at the discretion of the department or unit o May be a combination of digits and letters o Some logic (grouping) exists Initiative o Typically used for each PI’s share of a grant, internal awards, and now also for non-research projects (not sponsored research) o A Generic value is 0000000 o Generic value is 000000 if no specific product codes exist Product Initiative 16

Operating Unit (OU) Fund ID GL Account Code Department ID Product Initiative 17

Project ID o Used for both sponsored research and construction o Variable logic For sponsored research 10 digits identifying the specific research project The project ID begins with the college/department values For construction Project ID* 14 characters; begins with the letter “P” “PF” indicates fund source is the State of Florida “PD” indicates departmental funding of the project “1” indicates Tampa, “2” indicates St Pete, “3” indicates Sarasota 18

Operating Unit (OU) Fund ID GL Account Code Department ID Product Initiative Project ID* 19

Additional Chartfields o Other chart fields The USF business unit by default is USF01 The USF SetID by default is always USFSI o Research related transactions also include PC Business Unit Activity ID Analysis Type 20

Requesting New Chartfields o University Controller’s Office controls chartfields Complete a request form Requires signature and GEMS ID of the accountable officer Send it to ALN 147 for processing o There are queries in FAST to produce lists of chart fields U CF FUND U CF ACCOUNT U CF DEPTID U CF PRODUCT U CF INITIATIVE 21

Things to be careful of o Chart fields must be used in the right combinations o Combination edit checking o There are allowable and unallowable combinations o This helps ensure the accuracy and integrity of the financial reporting o We have 152 rules o Operating Unit HSC can be used only with departments beginning with “6” o Department IDs beginning with “034” requires use only with a product code value of “IT .” or no product code o A GL account beginning with a “7” can be used only with another GL code beginning with “7” 22

Where to find this information? o Finance Mart is the official reporting tool for USF for reconciliation and reporting o Finance Mart: Budget reports (which includes budget code also) Expenditure reports Revenue reports Balance Sheet Encumbrance reports o Search FAST with clues you find in Finance Mart In General Ledger search by chart field or journal ID In Accounts Payable search by voucher or supplier In Purchasing search by PO or requisition number In Billing and AR search by invoice or customer number In Grants Information search by PI or project ID 23

Online Business Processes The address is www.usf.edu/businessprocesses Allows for keyword search or category search You may pose questions Look for information on Accounting practices HR-payroll Purchasing Research The USF Foundation And many other subject areas Look for the TRAIN The Research Administration Improvement Network www.research.usf.edu/train The Goals Building the knowledge base of research administrators Enhancing professional competencies Improving business processes and reporting 24

University Controller’s Office (UCO) o http://www.usf.edu/business-finance/controller UCO Administrative Services, Accounting & Reporting, Student Services, Travel & Accounts Payable, Payroll & Tax Services, and Procurement. Important ListServ accounts: o FAST ListServ Visit http://listserv.usf.edu/scripts/wa.exe?A0 FAST-LIST to subscribe; click Get Password o Travel ListServ Travel home page to subscribe o Payroll ListServ Look on the Payroll Overview page to subscribe o Purchasing ListServ 25

Helpful Resources Email Department [email protected] Accounts Payable Help [email protected] Asset Management Help [email protected] Billing and AR Help [email protected] Cashiers Office Help [email protected] Electronic Media [email protected] Finance Mart Questions [email protected] Payroll Questions [email protected] PCARD Questions [email protected] Travel Questions [email protected] Purchasing Help 26