Chart

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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).

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 . 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 to each chart. To reassign a chart to a new Manager, remove the person from OLE37 first.

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.

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