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Chart of Accounts Chart of Accounts The Chart of Accounts (COA), is a six segment structure that is used in the P2P and new General Ledger system The COA determines how your accounting information is collected, categorized and stored for reporting purposes
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Chart of Accounts • The Chart of Accounts (COA), is a six segment structure that is used in the P2P and new General Ledger system • The COA determines how your accounting information is collected, categorized and stored for reporting purposes • Each account is made up of 6 unique segments and all 6 segments together are known as the Accounting Flexfield • The six segments are Fund Group, Fund Source, Organization, Natural Account, Project and Future Use • The Accounting Flexfield (AFF) combination is your COA structure • Each financial transaction is tagged with an AFF combination and identifies information about the transaction
Chart of Accounts • The COA is displayed with a dash between segment values. Example: 00-200004-10469-21000-000000-000
Segment Definitions Fund Group • 2 digit number • Will default to zeroes in the new General Ledger • 00 (General Funds) will be used by the Field for State, Grant, Unrestricted, Restricted, Loan and Endowment Operating Fund Sources • 06 and 17 will be used by Central Accounting for Endowment and BOG Construction/R&R Fund Sources • 07 will be used by Central Accounting, Facilities and some departments for Plant Fund construction Fund Sources
Segment DefinitionsFund Source • 6 digit number • Relates to our current six character account number
Segment Definitions Organization • 5 digit number • Relates to department • Identifies whose transaction it is
Segment Definitions Natural Account • 5 digit number • Identifies the nature of the transaction • Relates to our four digit object code or sub code in the legacy General ledger • Object codes = General Ledger accounts • Sub codes = Subsidiary Ledger accounts • The 4 digit General Ledger object codes have a zero at the beginning in the new Oracle system • example-02460Accounts Payables • The 4 digit Subsidiary Ledger sub codes have a zero at the end in the new Oracle system • example-21000 Supplies-Other • Examples of Revenue/ Expense Natural Accounts posted to a Fund Source are Student Tuition, Federal or State Grant and Contract Revenue, Supplies, Other Services, etc.
Segment Definitions Project and Future Use • Project – 6 digit number • Placeholder for Grants module • Future Use – 3 digit number • Placeholder if we need to add a segment in the future • Will default to zeroes in the new General Ledger
P2P • Currently this COA structure is used in the P2P application. When you create a requisition each segment of the COA has to be populated with segment values • Fund Group, Project and Future Use segments default to zero • Preparers have to populate the Fund Source, Organization and Natural Account segments
Journal Entry • The new General Ledger will have Excel templates that can be used to create a journal entry • The new COA structure will be used on the journal templates • When you create a journal entry, each segment of the COA will have to be populated with segment values • Fund Group, Project and Future Use segments default to zero • If invalid COA combinations are entered, the General Ledger application will flag the error
Reporting Attributes • Reporting Attributes are used in the General Ledger to capture additional descriptive information along with the COA and to report on this information • The Reporting Attributes will be used to group accounting transactions for financial reporting • Twenty Reporting Attributes have been defined by Central Accounting • DCGA has identified another twenty-five attributes that will be sent from SPAN to the new financial warehouse for reporting or information only purposes • Reporting Attributes may be used as parameters to narrow down the results on a report
