Change in required ChartFields for revenue accounts for 16-17 fiscal year

posted Jul 5, 2016, 4:39 PM by Peyri Herrera
For Preliminary, Group 1, Group 2, and Group 3 districts only

Beginning July 1, 2016 the definition of what constitutes a valid revenue ChartString changed. Part of this change was put into place early so you could post your 2017 budget into PeopleSoft using the correct configuration. SDCOE Financial Accounting sent a communication to all PeopleSoft business contacts months ago explaining the new account configuration for 16-17 and discussed it with Finance Directors at a meeting on March 30, 2016. This announcement is a reminder about the change and a discussion of the timing of the rest of the configuration update.

The final piece of the configuration will be put into place once you have finished closing out fiscal year 2016. This delay is necessary so you are still able to post to 2016 using the old configuration. Once Financial Accounting verifies that 2016 is closed they will notify the PIT team and the final configuration will be put into place.

IMPORTANT: It is very important that you carefully follow the new rules when posting to 2017 during this interim time period so that you do not create ChartStrings that will be invalid once the final piece of the new rules are put into place.

Here is a snapshot of the fields that are required to be filled and blank for the 2016-17 fiscal year. This configuration is required for budgets and transactions including GL Journals and deposits.
PeopleSoft ChartString Configuration

NOTES:
  • Expenses: No change in required fields. Fund through Site are required for all expense ChartStrings.
     
  • Revenue: Beginning in FY 2016/17 the Goal, Function, and Site fields must be filled in. Operating Unit is not allowed. Project Year is optional. 
    • Goal must be a number for special education revenue, otherwise it must be zero filled with 0000. It may not be blank. 
    • Function must be zero filled with 0000. It may not be blank. 
    • Site must be a number of your choosing or it may be zero filled with 000. It may not be blank. 
    • Operating Unit must be blank. 
    • Project Year is optional and may be either blank or any value between 0 and 9.

  • Balance Sheet: No change in what is required. 
    • Goal must be blank. 
    • Function must be blank. 
    • Site must be blank. 
    • Operating Unit must be blank. 
    • Project Year is optional and may be either blank or any value between 0 and 9. 
The new rules regarding required fields for revenue have been put in place so when you post your 2017 budget make sure you are following the above convention. Additional rules will be entered when your district is finished closing 2016. In the meantime, please be sure to use the above rules when transacting business for the 2016/17 fiscal year.

The change was initiated by District Financial Services to eliminate duplication of ChartStrings with either filled in or missing ChartFields. This change should prevent having essentially the same ChartString shown twice.

Group 4 Organizations: Note that your current configuration is already as shown above.

If you have any questions about the new configuration, please contact Financial Accounting. For questions about PeopleSoft, please create a HEAT ticket with the CRC.