Chart of Accounts

Introduction

The Chart of Accounts (COA) is a series and combination of codes that translates the University’s business activities into structured financial data. These data are then used for business analysis, financial decision making, and internal & external reporting.

These financial data seek to meet the following objectives:

• Prepare audited financial statements that follow Generally Accepted Accounting Principle (GAAP) which is fair and complete.

• Comply with regulations and restrictions set by governmental authorities, grant agencies and donors.

• Provide comparable data over time for better budget management, business decision making and external reporting.

Chart of Accounts Structure

The Chart of Accounts can be broken down into the following elements.

• Funds (6 digit): Funding Source

  • Budgeted Funds: xxx002, 30200x, or 121001 are budget funds. The amount of funds that are allocated is renewed at the beginning of each fiscal year based on the budget.

  • Non-Budget (Designated) Funds: These funds are funded through various sources and are set aside for specific purposes. These funds are usually restricted and can only be used for transactions that qualify.

• Orgs (4 digit): Cost Centers

• Accounts (5 digit): Nature of Transaction

  • Revenue (5xxxx)

  • Labor Expense (6xxxx)

  • Expenses (7xxxx)

  • ID Charge (801xx)

  • Transfers (805xx, 808xx)

Open

Open

• Activity Code (6 digit): Additional Information used to track types of transactions or events.

• Index Code: Pre-coded Fund, Organization, Account, Activity Code (FOAA) for maintenance charges (reserved for Facilities use)

• Detail Code: Pre-coded FOAA for Scholarship, Tuition, Fee and Room & Board Charges (reserved for OUS, SFS and Registrar use)

  • If you need to set up a new Scholarship or Fee Charges that needs to be charged to the students' account, please fill out the detail code form below.

Chart of Accounts Lookup

If the COA is showing “I” Inactive or “N” non-data entry please do not use them. They are either roll-ups or closed.

Requesting New Fund / Org / Account /Activity/Index/Detail (FOAAID) Code

FOAAI

Step 1: Look through the COA and see if there are existing FOAA that can be used and tracked with an activity code instead creating a new FOA.

Step 2: If a new FOAA is needed, please email generalledger@spu.edu with the following item.

• Fill out the forms below. Please list in detail the reason why a new FOAA is needed.

• Attach all backup documentation (Email conversations, contracts…etc.)

FOAAID Request Forms can be found here:

General Accounting Forms