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The Chart document is used to define the valid charts that make up the high-level structure of the OLE Chart of Accounts. It also indicates who has management responsibilities for each chart and which object codes are used for system-generated accounting lines for the chart.
Accounts and object codes are specific to each chart. These are represented in OLE by a two character code. OLE sample data shows “IU” as the University Chart Code, with “BL” as the sample chart relating to our sample Campus Code “BL” and sample budgets, organization, and account structures (including object codes).
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The Chart document includes the Edit Chart tab. The system automatically enters data into both the Old and New sections. Selected data fields are available for editing.
Edit Chart tab definition
|
Title |
Description |
|
Chart Code |
A unique identifying code assigned to a chart |
|
Chart Manager Principal Name | Required. The
principal name of the manager responsible for a specific chart.
Existing principal names may be retrieved from thelookup |
|
Chart Manager Name |
The employee name matching the principal's name. |
|
Chart Description |
Required. The descriptive name of the chart. |
|
Chart Active Indicator | Indicates whether this chart code is active or inactive. Remove the check mark to deactivate a chart code. |
|
Cash Object Code | The default
object code that represents cash on the chart. Existing cash object
codes may be retrieved from the lookup  . |
|
Accounts Payable Object Code | The default
object code for accounts payable entries on the chart. Existing
accounts payable object codes may be retrieved from the lookup . |
|
Income Budget Elimination Object Code |
The default object code for income on
system-generated Transfer of Funds documents, such as those
generated by a Budget Adjustment document between two accounts
with different income stream accounts. Existing income object
codes may be retrieved from the lookup |
|
Expense Budget Elimination Object Code |
The default object code for expense on
system-generated Transfer of Funds documents (similar to the
Income Budget Elimination Object
Code field described above). Existing expense
object codes may be retrieved from the lookup |
|
Reports to Chart of Accounts Code |
Required. A chart to which the chart
reports in the Chart of Accounts hierarchy. Existing Chart of
Accounts codes may be retrieved from the lookup |
|
Accounts Receivable Object Code |
The default object code for accounts
receivable entries on the chart. Existing accounts receivable
object codes may be retrieved from the lookup |
|
Internal Encumbrance Object Code |
The default object code to offset internal
encumbrances on the chart. Existing object codes may be
retrieved from the lookup |
|
External Encumbrance Object Code | The default
object code to offset external encumbrances on the chart. Existing
object codes may be retrieved from the lookup |
|
Pre-Encumbrance Object Code |
The default object code to offset
encumbrances created via the Pre Encumbrance document on the
chart. Existing object codes may be retrieved from the lookup |
|
Indirect Cost Recovery Income Object Code |
The default object code for indirect cost
income entries on the chart. Existing object codes may be
retrieved from the lookup |
|
Indirect Cost Recovery Expense Object Code |
The default object code for indirect cost
expense entries on the chart. Existing object codes may be
retrieved from the lookup |
|
Fund Balance Object Code |
The default object code for fund balance
entries on the chart. Existing fund balance object codes may be
retrieved from the lookup |
Note
The object codes on the Chart of Accounts table are optional because object codes have chart as part of their primary key. Completion of the object code fields is vital to the system performing properly, and these fields should be completed immediately after object codes are set up for the new chart.
Note
In the demo and test environments; it is NOT recommended to edit existing Chart structures in OLE sample data, however users can add notes, change the description, or copy to create a new Chart based on an existing chart. Lookups can be used to search for valid Object Codes (but please do not change object codes on the IU or BL Charts).
The chart code is the first thing to create when populating your chart of accounts. You must have at least one Chart in OLE. It is recommended that if you only have one Chart, that chart should report to itself.
Associated documents of a chart: Requisition, Purchase Order, Account and Object Code
A chart requires a Chart Manager. As stated in the descriptions above, when a person is assigned as the Chart Manager, they will also be assigned to the role Chart Manager (OLE37). To avoid any errors, assign only one person as the manager for each chart. To assign a new Chart Manager, remove the person from OLE37 first.
