Accounting Presentation Chief Accounting Officer

Accounting Presentation Chief Accounting Officer/Controller Bethaney M. Willis X2076

C H A RT O F AC C O U N T S

CHART OF ACCOUNTS The accounting string, coding system, is an  essential part of the College's accounting  system. It consist of the fund group,  department id, program code, class code,  project id, and the account code. 

Char t of Accounts Cont. Information to complete each area is  derived from the chart of accounts which  serves as a systematic classification system  and is developed to be compatible with  the organizational structure of the  institution. In using chart segments, they  must be presented in the following format:  This format or coding scheme is described  below: 

Accounting String

1. The first five digits indicate the fund  group.  2. The next five digits will indicate the  program code (function).  3. The next five digits shall serve to  indicate the class code or the source of  funding.  4. The next seven digits are reserved to  identify the department ID. 

Accounting String Cont.

5. The next digits are indicators for  sponsored projects.  6. The last six digits in the numbering  system shall serve to identify the  account code or type of expenditure.

Expense Transfers Expense Transfers: • Are handled in Accounting Services • Journal Entry Form • Questions are directed to Accounting Services

•The Georgia Perimeter College General Ledger is the central repository for transactions of Peoplesoft financial applications, such as: Accounts Payable, Payroll, Purchasing, Asset Management, P-Card, and other local processes. Manual journals to the General Ledger are made to redistribute or reallocate from one chart field to another. Manual journals are created to:

• To reclassify transactions resulting from processing errors • To transfer expenses (Example: Move P-Card expenses from one funding source to another) • To charge another department for services rendered

Journal Entry Request Procedures •

The Preparer creates the J/E and attaches all applicable backup to it. (Required)

• Attached backup should clearly outline the purpose of the J/E & include copies of all relevant source documents. (Required)

• The J/E should then be forwarded to the Supervisor/Director or above for review and approval (Required) • After authorization the J/E goes to a designated person with security access to enter J/E’s into PeopleSoft (Accounting Services)

JOURNAL  No.

Transactio n Date

Department Name:   Account

Fund

Department

Program

Class

Project

DEBIT

CREDIT

xxxxxx

xxxxx

xxxxxxx

xxxxx

xxxxx

ID

AMOUNT

AMOUNT

Cania Cullins  X2074 #’s‐H Utilities J‐Card GTA Joint Staffing

Yanique Lewis  X2066 I‐P Travel Reimbursements Wright Fuel FSA 

Solange Hardy  X2066 R‐Z Payroll LRC‐Library Student Stipends/Reimbursements Meal Advances 

QUESTIONS