What This Process Does


  • Creates an expenditure account code that is available for use throughout OpenRDA.
  • Creates an Account Year Master for the Fiscal Year selected for the account code, which is required for the account code to be used.


Requirements


  • Chart of Accounts – In order for an account code to be created using the Chart of Accounts, it must be maintained with the proper dimensions that will be used.


Creating an Expenditure Code from Chart of Accounts


  1. Finance → Financial Management → Setup → Account Masters Setup → Add COA-Based Accounts → Expenditure
  2. Populate each dimension of the account code by selecting the load/magnifying glass.
  3. For the Description, you can either type in a unique description, or click the Default Dimension Description to assign a dimension description to the account code directly.
  4. Enter the Fiscal Year to create the Year Masters, and the remaining fields as desired.
  5. Click the Save button.
  6. View the session list at the top of the screen to check that the account code was created.
  7. Once all account codes are deleted, click the Cancel button.


FIELDSOpt.Rec.Req.Description
Dimensions (FD, PJT, OBJ, etc.)--♦Populate the dimensions accordingly to build the account code
Default Dimension Description♦--Once checked, the description of the dimension will be applied to the account code description
Account Code---Automatically populates once dimensions are chosen
Description-♦Can be manually entered or defaulted by the Default Dimension Description
Fiscal Year--♦The fiscal year where the year masters for the account code will be assigned; See Below
Create Std. Bal Sheets♦--See Below
Grant ID♦--Applies if the account code is attached to a particular grant – available to all Enterprise Customers or with software bundle FM 11 for 101 Customers
Account Manager♦--An account code can have an account manager assigned; good for ranging and separation of duties; necessary for customers with account code level security – available to all Enterprise Customers or with software bundle FM 12 for 101 Customers
Reference Type♦--Optional reference type can be assigned to an account based on what it pertains to – available to all Enterprise Customers or with software bundle FM 13 for 101 Customers
Opt. = Optional  Rec. = Recommended  Req. = Required


Create Standard Balance Sheets


  • If the fund is new for the account code being created, this box needs to be set to true. Balance Sheet Account Masters will be created for the fund.
  • The fund MUST exist in the Chart of Accounts.
  • Only those Standard Balance Sheet Codes marked as Essential AND Standard will be used to make the balance sheet masters.


Year Masters

  • As a good rule of thumb, double check to make sure that an Account Year Masters exists for the new account code in the desired Fiscal Year. If one does not, the new account code can not be used. To check for the Account Year Masters, follow the steps below:
    1. Finance → Financial Management → Query → Expenditure Account Masters → Years
    2. Range on the new account code and on the fiscal year. Hit the Select button. A browse screen will show.
    3. If the account code is shown with the proper fiscal year, the Account Year Masters is present and the account code can be used.