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Financials Glossary

General Terms

Term
Definition
FIU Examples
Chart of Accounts
A chart of accounts represents how a business gathers, stores, combines, and uses financials information in the course of its operations. Every business maintains accounts to trace the flow of revenues and expenses and to track assets, liabilities, and equity. You use departments to help divide the functional areas of a business into logical groups and to provide an organizational structure and reporting hierarchy.
 
ChartFields
  • ChartFields are the components (fields) that make up our chart of accounts and provide it with an overall structure
Account, Alternate Account, Department, and Project/Grant ID
SpeedType
  • A code representing a combination of ChartField values. SpeedTypes simplify the entry of ChartFields commonly used together.
 
Speedchart

A user-defined shorthand key designating several ChartKeys to be used for voucher entry. Percentages can optionally be related to each ChartKey in a speedchart definition.

 
Account
  • In PantherSoft the "account" serves the same purpose as the "object code" in SAMAS. It is a six-digit code used to classify a transaction, i.e, office supplies, travel, miscellaneous revenue, etc.
6XXXXX
Revenues
7XXXXX
Expenditures
Department ID
  • The "department ID" is the equivalent to the "account" in SAMAS. It records financial transactions for an activity which is budgeted and accounted for separately i.e., a department, grant, auxiliary operation, etc
  • Digits 1-6 identifies a University department, or major University activity
  • Digits 7-9 identifies a project or a separately budgeted for activity within the department. It also identifies the funding source.
000 Financial Aid
100 E&G
400 Grant Overhead and Miscellaneous
500 Grants
600 Auxiliaries
700 Agencies
790 Concession
Campus
  • A code representing a combination of ChartField values. SpeedTypes simplify the entry of ChartFields commonly used together.
1
University Park
2
BBC
3
Broward
4
Pembroke Pines
Fund

This chartfield is used to account for major funding sources that the University must account for and report on separately. All department chartfields must be mapped to a fund.

 
2xx - Educational & General
3xx - Auxiliary Trust Fund
41x - Athletics
45x - Student Government
46x - Concession
47x - Scholarship
48x - Loan
49x - Agency
6xx - Sponsored Research
7xx - Construction Trust Funds
8xx - Plant Fund
064 - Building Fee Trust Fund
71 - Capital Improvement Fee Trust Funds
Program
  • Chartfield
  • Know as the PCS code and is required code for State reporting and financial statements preparation through the ICOFA Consortium system
 
Alternate
Account

This chartfield identifies the State standard General Ledger code. Each "account" chartfield must be mapped to an alternate account.

 
Project

Used for projects requiring the University to report fiscal activities on a "life-to-date" basis. Typically, the life of these projects crosses fiscal years. This chartfield will be used for grants and construction projects.

 
External Fund

This is a one-digit code that classifies funds by the traditional NACUBO fund group such as Current Funds (Unrestricted & Restricted), Loan, Plant & Agency. Logic in the ICOFA Consortium financial statement system uses this code to classify transactions, particularly in the equity section of the statements.

 
State Program Component

This code is used in conjunction with the Program chartfield (PCS) to classify activities by function, based on logic built into the ICOFA Consortium financial statement system. This is a 16-digit code. Each department chartfield will be mapped to a State Program Component through an attribute

 

 

 

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