CENTRAL SUSQUEHANNA INTERMEDIATE UNIT Application: Fund Accounting Account Classes Directory Set Up Learning Guide 2009 Central Susquehanna Intermediate Unit, USA
Table of Contents INTRODUCTION...3 Account Classes:...4 Directories > Account Classes...4 Accounts Payable Transaction Types...4 Accounts Receivable Transaction Types...4 Auto Posting Transaction Types...5 Other Transaction Types...5 Rev: 05/05/2009 2009 Central Susquehanna Intermediate Unit, USA Page 2 of 6
INTRODUCTION This Learning Guide will review setting up the Account Class Directory. Rev: 05/05/2009 2009 Central Susquehanna Intermediate Unit, USA Page 3 of 6
Account Classes: Directories > Account Classes The Account Class Directory is based upon the five classes of transactions as defined by the PDE. Control accounts are used to represent the expenditure and revenue classes on the balance sheet. Detail information for either expenditure or revenue is available. However, they are represented by control accounts on the balance sheet. The five classes of transactions are GEN General Ledger, which is the only class that does not require control accounts; EXP Expense Class; OEX Other Expense Class; REV Revenue Class; and ORV Other Revenue Class. The function, which is the second break of the PDE-defined account codes, determines the class of the account. The following is a list of the functions and their associated classes. Gen Class- functions begin with a zero; they do not have control accounts. EXP Class- functions range between 1000-4999; the control account is 0602. OEX Class- functions range between 5000-5999; the control account is 0605. REV Class- functions range between 6000-8999; the control account is 0302. ORV Class- functions range between 9000-9999; the control account is 0307. When we are converting your information, we will automatically load a default Account Class Directory set up per PDE-defined accounts. You can make changes, if needed. In our Fund Accounting application we have 13 types of transactions. They are: Accounts Payable Transaction Types: C Computer Checks: Enter these transactions for direct payments. M Manual Checks: Enter these transactions to record wire transfers or electronic payments. E Encumbrances: A Purchase Order will create an encumbrance, either manually or automatically per your preference defined in the YEAR ASSIGNMENT DIRECTORY. L Liquidations: When an encumbrance has been created and you are ready to pay a purchase order, you will liquidate the encumbrance, which will create an L transaction type. Accounts Receivable Transaction Types: B Encumbered Revenue: When you enter an A/R invoice, encumbered revenue will be created, either manually or automatically, per your preference defined in the YEAR ASSIGNMENT DIRECTORY. Some of our clients refer to the B as billable. G Liquidate Encumbered Revenue: When you receive payment for an A/R invoice, a G transaction is created. A nickname for the G is got the money. Rev: 05/05/2009 2009 Central Susquehanna Intermediate Unit, USA Page 4 of 6
Auto Posting Transaction Types: P Payroll: When payroll is transferred to Fund Accounting and is posted, a P transaction will be created. F Fringe: When insurance postings are transferred from Personnel and are posted in Fund Accounting, an F transaction will be created. I Inventory: When inventory is transferred from Consumables Inventory and is posted in Fund Accounting, I transactions will be created. I transactions will be created also when adjustments or manual receipts are entered. R Revenue: When tax collection information is transferred to Fund Accounting and is posted, R transactions will be created. Other Transaction Types: D Double Entry: During check processing and when you run double entry, D transactions will be created. R Revenue: When you enter manual receipts you will use the R type transaction. R type transactions will be created also when transferring information from our Tax Collection application. T Budgetary Transfers: When you enter transfer transactions, use Budget Transfer to create transfers, or use the BUDGET TRANSFER IMPORT, a T transaction is created. J Journals: When you post a journal worksheet, a J transaction will be created. Posting inventory from Consumables also creates J transactions based upon the orders and requisitions that have been processed. The first part of the ACCOUNT CLASS DIRECTORY contains the Class Definition, which specifies the fiscal Year, Class, Description, whether the transactions are usually DB or CR (Debits or Credits), and the Usage. Rev: 05/05/2009 2009 Central Susquehanna Intermediate Unit, USA Page 5 of 6
The ACCOUNT CLASS DIRECTORY includes two tabs of information: the first is for Regular Double Entry with all transaction types listed; the second is for Payroll Double Entry with the purpose codes assigned to payroll listed. You can assign the F Object (fringe) for the F type transactions that are created when insurance postings are transferred from the Personnel application. For example, for medical insurance you could have Regular Double Entry set up as follows: Notice in the example we have added several F type transactions and indicated the F Object associated with the different types of insurance. You can also assign certain functions for B transactions that are created when you enter an Accounts Receivable Invoice. You may need to adjust the columns to display the Function set up. Just like the F transactions, you will need to use the drop down to select the Function. When using this feature, you must leave a B transaction set up as the default. If you want receivables to post to different accounts for local, state, federal, or other sources, specify the Function. Rev: 05/05/2009 2009 Central Susquehanna Intermediate Unit, USA Page 6 of 6