The Chart of Accounts are numbering systems for recording, tracking, classifying, and reporting on financial (budget and actual) transactions within the PeopleSoft Financial System (PS Financials) which is described in a later chapter. The Chartfield elements are;
These are the Chartfield elements required to code every transaction into PS Financials.
1. Fund
A fund is a two digit numeric element that uniquely identifies a primary funding source. Below are the Puget Sound fund groups.
Not all of these funds are viewable from the PS Finance tools in myPugetSound, however those that are have been grouped into three categories:
2. Department
A department is a 4 digit numeric element that uniquely identifies academic discipline or a supporting unit at the university.
1DDD: President
2DDD: Office of Communications
3000 & 73DD: Enrollment Division
4DDD: Academic Division
5DDD: University Relations
6DDD: Student Affairs Division
7DDD (except 73DD): Finance & Administration Division
8DDD: ASUPS
9DDD: General Operations/Other
3. Project
A project is a 6 digit numeric element that uniquely identifies a project, proposal, or designated purpose. This element may not be applicable for all Chart of Account structures.
4. Account
An account is a 5 digit numeric element used to uniquely identify revenues, operating & capital expenses, transfers, assets, and liabilities.
5. Chartfield1
Chartfield1 is an optional code and is a 5 digit numeric or alpha element that can be used in addition to the four Chartfield elements.
6. SpeedChart
To simplify the chart of account structure when coding an expense or revenue, Puget Sound has created an additional element that can be used in place of three Chartfield elements; fund, department, and project code. This “short cut” Chartfield element is referred to as the SpeedChart.
A SpeedChart is six numeric digits long and in most cases, not all, comprised of either;
PPPPPP - the project code (if the your chart of account structure contains a project code); or
FFDDDD - the combination of fund and department
Chart of Account structure using SpeedChart: SSSSSS.AAAAA.CCCCCC (optional)
SpeedChart.Account.Chartfield1
For accounts with funds grouped in the Annual Budget group your SpeedChart will be the department code preceded by the fund code (example: 104002 = Biology)
For accounts with funds grouped in the Carryover Project or Grant & Project groups your SpeedChart is the project code (example: 184130 = Biology Travel account). This is true for the majority of chart of accounts strings but not all. To verify your SpeedChart use the Chartfield Value Lookup tool within myPugetSound.
7. Chartfield Value Lookup Tool
Puget Sound has created a tool that allows you to lookup or search Chartfield elements. To utilize this tool log into myPugetSound, click on “Financials” in the menu bar, and click on Chartfield Value Look as seen to the right. For more information on myPugetSound visit this website.
Once clicked, you will have five tools (tabs across the top) to search Chartfield elements described above. These are search tools only, and will not provide links to drill into accounts or detailed information.
Each tool within PS Financials is slightly different but the concepts are the same. To search a Chartfield simply enter a complete (or partial) word or number then hit Search.
Example 1: Lets lookup the SpeedChart for the Biology’s travel funds. To do this we could type “bio” within the box titled “Description contains:” and hit search. The SpeedChart Search tool will bring back any budgets that have the letters “bio” within the description, as seen below. Within the SpeedChart Search tool the results will provide the SpeedChart, Description, Fund, Project (if it has one), and Department. The SpeedChart we were looking for is 184130.
Example 2: Let’s look up the account code we would use to code expenses for lab supplies. To do this we would use the Account Search tool and could type in “supplies” (looking for the account for “lab supplies”) within the box titled “Description contains:” and hit search. The Account Search tool will bring back any accounts with the word “supplies”. Below you will see we will return 20 different accounts with this word. The results include an account number, description, and the type of account it is, therefore the account we will code lab supplies is 61025.
4. Reclassification/Transfer Requests
To move accounting activity or request funds to be "transferred" be sure to include the following information within your email to finance@pugetsound.edu:
- Amount
- Date of transaction (if applicable)
- Supplier and/or activity description (if applicable)
- Document number (if applicable)
- Location of current revenue/expense (speedchart.account.chartfield1(if applicable))
- Desired location of revenue/expense (speedchart.account.chartfield1(if applicable))
- Detail reason for the move
- Must copy the budget manager(s) for the impacted (current and desired) budgets on the email request
EXAMPLES:
Reclassification – to reclassify a current transaction:
Example: “Please reclassify $350.00 charged by Academic Impressions dated 11/28/15 (see below) from 107101.61010-Office of Finance-Materials to 107100.61010-Inventory-Materials. These inventory materials were incorrectly coded at the time of purchase and need to be charged to the correct department.”
Transfer – to transfer funds in support an activity or transaction that has or will happen:
Example: “Please transfer $500.00 from 107101-Office of Finance to 104666-Astronomy to partially support Senator Bail Organan’s airfare travel to Alderaan in February.
For additional information please contact finance@pugetsound.edu.