PantherSoft FinancialsChart of Accounts Redesign

Agenda Defining the Chart of AccountsChart of Accounts Redesign GoalsNew FeaturesBasic Fields

Definition of Reqired Chartfields Summary of Changes by Chartfields Current vs. Future Chartfields Example of Current vs. Future Chartfields

Module ImpactsCost Center & Changes to FormsNew Activity Nbr. FormatCrosswalk from Old Department ID to New Activity Nbr.

Crosswalk Navigation and Excel program and hintsExamples of Accounting DefaultsChanges to Pinnacle Billing SystemHuman Resources ImpactsMiscellaneous Information

Defining Chart of Accounts

What is the Chart of Accounts?

The Chart of Accounts(CoA) is the coding structure that defines an organization’s operations in financial terms and serves as the building block of the general ledger and financial reporting.

Simply put, the CoA organizes business activities using codes and hierarchies to enable financial analysis and reporting.

Chart of Account Redesign GoalsTo develop a financial structure which will identify, capture and report activities of the institution in the University’s financial system accurately and in sufficient detail to be used independently or in conjunction with other systems and to provide senior management with information necessary for Financial and Management Reporting.

This CoA structure should: Be driven by the analytical and reporting needs of the institution Be flexible enough to accommodate future growth Facilitate the consistent use of the chart by each operating unit

across the institution Facilitate achieving fewer errors, more transparency, and

consistency Minimize analysis efforts, coding errors, and training

requirements for users

New Features

Consistent use of departments across modules

Continued use of a value that represents a specific Chartfield string

Budgeting/tracking by Cost PID, Task and Cost Sharing

Enhanced reporting capabilities for department consolidations and new Chartfields

Basic fields used to categorize transactions in PantherSoft:

Business Unit

Department (Changes to Organizational Department)

Account

Alt Account

Fund

Program Code

Site (Change from Class and expanded to 2 digits) [This change does not affect Projects created prior to 7/1/2012]

Activity Number (New Field)

Budget Reference (Now to be used for Financial Aid to track aid year)

Project

Cost PID (New Optional Field)

Task (New Field)

Definitions - Required ChartfieldsRequired

Name DefinitionBusiness Unit Identifies the legal entity within the University.

DepartmentIdentifies an organizational unit. To be considered a Department the unit must serve a distinct function or discipline, have a manager with subordinates, and have a budget. This is a common value across all PantherSoft systems (Campus Solutions, HR, Financials).

AccountIdentifies transactions based on the object or nature of the event to which they relate. This Chartfield is used to classify transactions in the accounting system as Assets, Liabilities, Revenues, Expenses or Equity. This Chartfield further breaks down this classification by type such as rent revenue, fees, travel expenses, etc.

Alt Account Classifies the nature of a transaction utilizing the State standard General Ledger code. Each “account” Chartfield must be mapped to an alternate account. Used for statutory reporting only.

Fund Identifies major funding sources that the University must report on separately. Each fund has its own rules for spending and for receiving money.

Program CodeIdentifies the primary mission or activity being reported such as instruction, research, public service, administrative support, plant operation and maintenance, financial aid, student activities, etc. Also known as the PCS code and is a required code for State reporting and financial statement preparation.

Site Identifies the campus or location to which the transaction is identified, such as On-Line, Study Abroad and Medical locations.

Activity Number Tracks revenues and expenses for a specific activity using a distinct fund, program code, site and department (organization) string.

Optional

Budget Ref. Identifies the aid year for financial aid awards. Also used by College of Medicine to identify the academic period.

Project Tracks projects whereby the University is required to report fiscal activities on a “life-to-date” basis. Typically, the life of these projects crosses fiscal years. This Chartfield will be used for grants and construction projects.

Cost PID Tracks revenues and expenses for a specific Faculty allocation.

Task Tracks expenses that have a similar purpose that are not identified in another existing Chartfield, for example, Critical Investments.

Summary By Chartfield

SUMMARY BY CHARTFIELDField Name Change New Field Usage

Change Required Budget By

Business Unit No No No Yes YesDepartment ID No No Yes Yes Yes

Account No No No Yes YesALT Account No No No Yes Yes

Fund No No No Yes YesProgram Code No No No Yes Yes

Site Class No Yes Yes YesActivity Nbr New Chartfield Yes New Chartfield Yes Yes

Budget Reference No No Yes No No

Project No No No Grants E & G Cost ShareCost PID New Chartfield Yes New Chartfield No Optional

Task New Chartfield Yes New Chartfield No No

Past Versus Current Views

Examples of Past Vs. Current Required Fields Optional Fields

Current Business Unit

Department (Activity) Account ALT

Account Fund Program CodeClass Budget

Ref Project

Future Department (Organization) Site ActivityNbr Cost PID Task

Example 1 Current FIU01 243000103 771000 77100 210 51 1

CPHSW Student &

Alumni Affrs

Permanent Salaries

Comp & Empl Ben

E&G General Revenue

Student Service Administration

MMC Campus

Future FIU01 243000000 771000 77100 210 51 01 2430020003

CPHSW - Dean's Office

Permanent Salaries

Comp & Empl Ben

E&G General Revenue

Student Service Administration

MMC Campus

CPHSW Student & Alumni Affrs

Example 2

Current FIU01 243200602 771000 77100 335 78 2

Public Health Tuition Plus

Permanent Salaries

Comp & Empl Ben Auxiliary Continuing

EducationBBC

Campus

Future FIU01 243000000 771000 77100 335 78 02 2430030001

CPHSW - Dean's Office

Permanent Salaries

Comp & Empl Ben Auxiliary Continuing

EducationBBC

CampusPublic Health Tuition Plus

Example 3 Current FIU01 202000116 721201 72100 210 46 1

Faculty Startup

Furniture & Equipment

Over $5,000

Furniture &

Equipment

E&G General Revenue

Academic Administration

MMC Campus

Future FIU01 202001000 721201 72100 210 46 01 2020120009 2427545

CAS Deans Office Admin

Furniture & Equipment

Over $5,000

Furniture &

Equipment

E&G General Revenue

Academic Administration

MMC Campus Faculty Startup

Rodriguez, Jorge L

Module Impacts

Activity Number is a unique value used to identify a combination of Chartfields for financial transactions in the following modules:

Travel and Expense Requisitions, Purchasing and Accounts Payable Asset Management Credit Card Solutions Budget Overview Smart Billing Pinnacle Billing System

Cost Center & Changes to Forms

A Cost Center is the combination of the new 10-digit Activity Number and one or more of the new optional fields. The Cost Center will be reflected and available in PantherSoft HR and Financials as well as all forms which previously required Department ID.

New Activity Number Format

28501 - 2 - 0001Department - Fund Group - Sequential by Activity

The 10 digits in the new Activity Number represent the organizational department, the fund group, and individual activities.

First five digits represent the Department Sixth digit represents the Fund Group Last four digits are sequential by activity within

department and fund group

Example: (Honors College E&G)

Department ID 285000101–210–1–46

Activity Number 28501 2 0001

Crosswalk from Old to New ChartfieldsOld

Department Fund Class Program Code

285000101 210 1 46

New

Department Activity NbrActivity

Nbr DescrFund Fund Descr. Site Site Descr

Program Code

Bud Ref

Cost PID

CostPID

DescrTask SetId

285001000 2850120001THE

HONORS COLLEGE

210General Revenue

01Modesto A.

Maidique Campus46 FIU01

1

1. Dept. – Dept. Id Chartfield of today will contain a dept. value which represents your org. dept. and is the same as the dept. value in PSHR.

2. Activity Nbr – Tracks revenues and expenses for a specific activity using a distinct department (organization), site, fund, and program code string.

3. Site – Identifies the campus or location to which the transaction is identified, such as On-Line, Study Abroad and Medical locations. The data in the field will also change to two digits.

4. Bud Ref – Identifies the aid year for financial aid awards. Also used by College of Medicine to identify the academic period.

5. Cost PID – Tracks revenue and expenses for a specific Faculty allocation. 6. Task – Tracks expenses that have a similar purpose that are not identified in another existing Chartfield; for

example Critical Investments.

2 3 4 5 6

Excel Crosswalk

Navigate to: http://finance.fiu.edu/coa/Docs/COA_Crosswalk_IDS.xls

Hide all but Columns :E-F-G-H-I-J-K-L-M-O-Q-R-S-T-U

Travel Authorization Report – Accounting Defaults

Old

New

Travel Expense Report – Accounting Defaults

Old

New

RequisitionsOld

New

Asset Management

Credit Card Reconciliation

Old

New

Inquiring on Budget Overview at Department Level (CC_PRD)

Budget Overview at Dept Level Enhancement

Inquiring on Budget Overview at Activity Nbr Level (CC_DEP)

New - Inquiring on Budget Overview Cost PID (CC_PID)

Budget Overview at Activity Nbr Level (CC_DEP)

Changes to Pinnacle Billing System When you log into Pinnacle you will now see an ACCOUNT BILLING tab

instead of a DEPARTMENT BILLING tab. Starting with the 01-JUN-2012 bill, that will post in July, the Account Number

Column will contain the new 10 digit Activity # - PID (Panther ID) (if any) - Task # (If any).

Any bills prior to 01-JUN-2012 will contain the old 9 digit department # - Fund – Class - Program

Changes to Pinnacle Billing System

The account # (10 digit Activity # - PID - Task #) will appear at the top of each section of the bill.

Changes to Pinnacle Billing System

The values displayed for DEPARTMENT within the bill, will be either the ACTIVITY # or, a unique 10 digit number, starting with a letter, which is used when a PID and/or TASK value is defined in the ACCOUNT #.

PantherSoft HR Impacts

Payroll Transfers

ePRF

Contracts

Department Budget Table

Combo Codes

Time and Labor (Task Profiles)

Training & Support

Training Open Labs beginning July 9 UPK – updated online trainings available by July 9 Specialized group trainings available upon request

Support Call: Ext. 7-7200 Email: GLMaint@fiu.edu FIU CHAT

Communication Partners

Reporting Group

COA Redesign Project Website

http://finance.fiu.edu/coa

Questions ?

Open Lab