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PeopleSoft is the ERP (Enterprise Resource Planning) system used by Southern Miss. The financials management module of PeopleSoft is internally referred to as SOARFIN. Chartfield is a SOARFIN term used to define the data elements that will constitute the University鈥檚 Chart of Accounts. Southern Miss uses eight chartfields in SOARFIN that comprise the Chart of Accounts (COA).

 

These Chartfields are: 

Business Unit (required field and is defaulted for all transactions)

The business unit is the legal business entity for which financial statements are reported at the end of a fiscal year.

Account (required field)

The account is defined as the natural classification of financial transactions used for recording and summarizing assets, liabilities, net assets, revenues or expenses. (e.g., travel, office supplies, salary, etc.).

For a complete list of account codes to use for Grant (Funds 16xxx) activity, click here; GRANT ACCOUNTS(.pdf)

For a complete list of account codes to use for Non Grant (Funds other than 16xxx) activity, click here; NON GRANT ACCOUNTS(.xls)

Fund (required field)

The fund is defined as a self-balancing group of chartfield strings, established for unique budgeting, funding, accounting (including external financial reporting), and operational requirements.

For a complete list of Fund codes click here; FUND(.pdf)

Department (required field)

A department is generally defined as an academic or administrative unit that has a common programmatic, operational, and fiscal (including budgetary) responsibility.

For a complete list of Department ID's click here; DEPARTMENT(.pdf)

Program (required field)

The program is defined as a group of common ongoing activities for which financial activity needs to be tracked and budgeted. These activities may occur within a single department or across multiple departments. Unique activities for which financial information needs to be tracked will also be accommodated here.

For a complete list of Program codes click here; PROGRAM(.pdf)

Project/Grant (optional field)

Optional field which is 7 characters in length and used for specific types of funds; used for activities that are temporary in duration and for which revenues and expenditures may be accumulated over more than one fiscal year.

PC Business Unit

Required field if project/grant chartfield is used in budget string.

Activity

Required field if project/grant chartfield is used in budget string.

 

•     Not all chartfields are required for every transaction. 

•     Minimum requirements for every transaction are Business Unit, Account, Fund, DeptID, and Program. 

•     Each chartfield provides key information related to the transaction. 

•     It is important that each chartfield capture a single concept related to the transaction. 

•     The combination of chartfields make-up a 鈥渂udget string鈥� and will determine how transactions are posted to the University鈥檚 General Ledger.

 

Budget String Example:

 

 

Requesting New Chartfields

To request a new General Ledger/Budget chartfield (e.g. Account, Department),complete the Request for New Chartfield form. Mail the completed form to Sally Downey, Financial Reporting Manager, Box 5143.