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PeopleSoft ChartFields

 

This information is provided to assist you in getting to know the new terminology/lingo for ChartFields. The Chart of Accounts is the foundation of any accounting system. The various "ChartFields" contained within the Chart of Accounts describe the impact of a financial transaction.

The Chart of Accounts is being completely revised for PeopleSoft. The "simple" 10-digit account numbers are being replaced with eight ChartFields available to users. The ChartFields replace the complex meaning that had been "baked into" the ten-digit FAST accounts and their accompanying attributes. In PeopleSoft, "account" is one of the eight ChartFields. Therefore, instead of saying "PeopleSoft account", we'll refer to it as a "ChartField combination." To assist you, there will be a translation tool available to enter your FAST account and it will provide you with the PeopleSoft ChartField combination. In addition, a listing of all ChartField Values will be available from a PeopleSoft web page.

 

Click Here to see a comparative example of FAST and PeopleSoft ChartFields.

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PeopleSoft
Term		 FAST Term
Field Size Definition
Business Unit
 Campus 5 Required Field. Identifies campuses within UMS. USM's Business Unit is UMS06
Department
 Account Number 7 Required Field. A seven-digit number representing department. A unique code for each functional area.
Account Object Code 5 Required Field. Account replaces the 3 digit Object Code. It classifies the nature of accounting transactions: assets, liabilities, fund balances, revenues, expenses, and transfers.
Class none 2 Optional Field that can be used by departments to more specifically identify Account. For example: use this code to indicate that an "office supplies" purchase was for colored paper rather than white paper.
Fund none 2 Required Field. Used for reporting categories for GASB accounting or grouping that require self-balancing funds. This code will often default but will vary based on different types of Project and Program codes. Examples are unrestricted (E&G); restricted expendable (Annual Gifts); Restricted Non-expendable (endowments); Loans (Perkins, Nursing and University). The default is 00.
Program none 5 Sometimes Required. Used to track revenue, expenditures, and balances for programs within each campus or across the System. Used to identify reserves, endowments, loans and other sources of funds that need to be tracked across multiple departments or projects.
Project/Grant ID none 7 Required for all capital projects, grants & contracts and any other project with specific begin and end dates.
Operating Unit none 3 Optional Field. Can be used with Department to indicate a location (for example, Portland vs. Gorham), or other defining characteristic as determined by individual university Chief Financial Officers.


The example below does not show all eight ChartFields. Only four are required. The other ChartFields are necessary only if the particular type of transaction requires them. For example, charging for office supplies using a fictitious FAST account number, 6-2-55551-420, the comparative REQUIRED PeopleSoft ChartFields combination would appear as follows:
 
          6         2         55551           420
      Campus   Ledger   Department    Object Code
 
     UMS06      5556666         61000         00
 Business Unit   Department   Account Number   Fund

Click Here to view the ChartFields formatted for Journal Entries (Journal Vouchers).

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Created June 25, 2004 // Last Modified July 26, 2004