Account List

One of the first steps in setting up the Fund Accounting System is to establish your Account List. This table identifies the accounts (objects) used in the General Ledger, Revenue Ledger, Expenditure Ledger, and Project Ledger. These accounts provide the titles and subtotal structures associated with the ledgers' funds.

You can also create accounts for salaries and benefits following the procedures in the next topic, Account Fringe Benefits.

If your account structure needs to be changed in accordance with the Every Student Succeeds Act (ESSA), refer to the Financial Applications Every Student Succeeds Act Fiscal Year-End Checklist for details on converting account structures.

Menu Path

From the Fund Accounting menu, select Reference Tables. From the Fund Accounting menu, select Account List.

Set Up the Account List

Plan your Account List codes carefully before entering any records. Keep your coding structure as simple as possible. Also, to enable reports and displays to sort properly, codes should be the same length.

Establish Account Ranges

Account ranges are defined in your Fund Accounting profile. The ranges distinguish between asset, liability, fund equity, revenue, and expense accounts (objects). They can be entered as either numbers or a combination of alphabetic characters and numbers. For example:

Set Up Detail Accounts

In setting up your account structure, you may want to include detail accounts for posting transactions to enable you to roll their totals into the totals of higher-level accounts.

An Account List record can have up to three subtotal accounts. For example:

In this case, you could include detail accounts within the 3rd Subtotal Account, for example:

Based on this, when you post transactions against accounts 6421, 6422, and 6423, the system automatically rolls their amounts into the subtotal for account 6420. This amount rolls into the subtotal for account 6400, which in turn rolls into the subtotal for account 6000.

The system reads account codes from left to right as you would in alphabetizing a list. Because of this, the code 1000 sorts ahead of 200 even though it is a larger number. To establish a uniform length for your account codes, use leading zeroes to front fill any codes that are shorter than the standard length you choose. That way, the system will sort codes properly.

The uniformity in length also prevents the account ranges set in your Fund Accounting profile from overlapping. For example, if you had an Expenditures range of 100 to 999 and a Revenue range of 1000 to 1999, the revenue accounts would automatically be considered expenditure accounts since the system reads the codes from left to right. Both ends of the Revenue range fall within the Expenditures range, as do all codes in between. An Expenditures range of 0100 to 0999 would prevent the overlap.

Add Account Records

For subtotaling to work properly, you must set up your accounts in a specific order. Enter the higher levels first, followed by sub-accounts. For example:

1. Click Add New. Click OK after each step to save the record created.

2. Add the first subtotal account.

   Account Code	6000
   Title	Supplies

3. Add the second subtotal account, which rolls into the first subtotal account.

   Account Code	6400
   Title	Printers
   1st Subtotal	6000

4. Add the third subtotal account, which rolls into the second subtotal account.

   Account Code	6420
   Title	Toner Cartridges
   1st Subtotal	6000
   2nd Subtotal	6400

5. Add the first detail account, which rolls into the third subtotal account.

   Account Code	6421
   Title	Administration Toner Cartridges
   1st Subtotal	6000
   2nd Subtotal	6400
   3rd Subtotal	6420

6. Add the next detail account for the same roll-up structure.

   Account Code	6422
   Title	Accounting Toner Cartridges
   1st Subtotal	6000
   2nd Subtotal	6400
   3rd Subtotal	6420

7. Add the final detail account.

   Account Code	6423
   Title	Purchasing Toner Cartridges
   1st Subtotal	6000
   2nd Subtotal	6400
   3rd Subtotal	6420

8. Click Print to generate the Account List report.

Update an Account Record

1. Enter criteria identifying the records, then click Find. To run an advanced search, click Advanced.
2. Select the desired record, then click OK.
3. In the Account Data and Allowed for Use In sections, update the account record as needed.

4. Click OK to save the record.

   

   To update multiple records from the List section, select the Continuous checkbox. When you click OK, the next record from the List section will be active for updates. When you finish, click Back.

Delete an Account Record

1. Enter criteria identifying the records, then click Find. To run an advanced search, click Advanced.

2. Select the desired record, then click Delete.

   

   If the selected account is associated with any expenditure ledger, you cannot delete it.

3. Click Yes.

Fields

Account Data Section

Allowed for Use In Section