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.
  • Allows the user to create the account code without the assistance of the Chart of Accounts.


Best Practices


  • Dimensions - It is recommended that all account codes be created using the Chart of Accounts to build the dimensions of each account code.
  • Reports - For reporting, if an account code is used with this process, each dimension that is not present in the Chart of Accounts will not have a description of what category/header it falls under. This may make it difficult to view reports properly.
  • Year Master - Make sure that an Account Year Master 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 Master, 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.


Requirements


  • Existing Account Code - Make sure the account code being created does not already exist in OpenRDA.


Creating Expenditure Account Codes w/o Chart of Accounts


  1. Finance → Financial Management → Setup → Account Master Setup → Add Non-COA Based Accounts → Expenditure
  2. Type in the account code you wish to create.
  3. Fill in a description of the account code being created.
  4. Choose the fiscal year for which this account code is being created
  5. Populate remaining fields, if necessary.
  6. Click Save.



FIELDSOpt.Rec.Req.Description
Account Code——♦The account code being created
Description—♦—A user-defined description of the account code
Fiscal Year——♦Where the year master of the account code will begin
Create Standard Balance 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.