1101.3 Chart of Accounts

The policy sets forth maintenance responsibilities for Banner Finance Information System (FIS) Chart of Accounts Administration.  The Banner FIS Chart of Accounts comprise the codes described in sections below. The Banner FIS Chart of Accounts has a baseline (baseline chart) which forms the structure of the PSU Accounting records. To ensure the integrity of University-wide financial and managerial reporting, PSU seeks to ensure that Controller's Office and department duties and responsibilities associated with administration of the Chart of Accounts are documented, communicated, clearly understood, and consistently applied. 

The following elements make up the Charts of Account:

Account Code - An account code is used to identify an object of expenditure, revenue, transfer, or assets, liabilities, control accounts, fund balance accounts, and fund additions and deductions. (For instance, travel, tuition, accounts receivable, etc.) 

Account Type Code - An account type code is used to group account codes into categories for reporting. (e.g., asset, liability, general expense, labor, etc.) 

Activity Code - An activity code is used to identify the purpose of financial activity. (for example, to track specific project or team expenses) 

Bank Code - A bank code is used to designate which treasury account a particular fund operates in. 

Chart of Account Code - A chart of account code identifies the institution. 

Control Account Code - A control account code is used to identify revenue, expense, transfer, and encumbrance. They are general ledger accounts that reflect operating ledger activity. 

Fund Code - A fund code is used to identify a fiscal and accounting entity with a self-balancing set of accounts. 

Fund Type Code - A fund type code is used to group fund codes into categories for reporting. (i.e. current unrestricted funds, current restricted funds, auxiliary funds, etc.).