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Financial System Enhancements: COA structure and segments highlighted


The Financial System Enhancements (FSE) project represents a combination of initiatives planned to be available in November 2017 and includes the Chart of Accounts Redesign (COA), a new Financial Approvers tool and the new Oracle Grants Accounting Module, and supported by enhanced reporting capabilities with Oracle Business Intelligence.

In March, the FSE Project team reached a major milestone as the first fully converted instance of the General Ledger (GL) was completed. This enabled the project team to begin testing and interacting with real data in the new COA structure. In addition to converting the GL data, the project team also set-up a sub-set of sponsored awards (grants) data for testing purposes. With the conversion, the COA Partner Groups will begin to see how the data will be mapped in the General Ledger and the Oracle Grants Accounting Module. The COA Partner Group met in late March to share feedback regarding the best way to review the converted data and will continue to provide guidance on how to best assist planning units in reviewing their data. Planning Units will have the opportunity to review initial mapping data and provide feedback during April.

Enhanced HR/Payroll OBI dashboards are in development and are planned to be available in spring 2017. Employee Information, Absence Management, Appointment Information & Costing, Payroll Forecasting, and several other dashboard pages are being vetted with a Pilot Group comprised of representatives from across campus. Releasing the HR/Payroll dashboards prior to the release of the other Financial System Enhancements will allow users to become more familiar using dashboards within OBI, before leveraging them more heavily when the Financial and Grants Dashboards are released with the updated COA and Oracle Grants Accounting Module in November. Each dashboard will have multiple pages for various inquires and reports and will replace the current FMS Reports.

The FSE Change Network met in March to review a draft training schedule and provided valuable feedback to help accommodate the diverse training needs as well as help determine the most feasible training windows for all impacted users. The training schedule will be published in late spring.

Each month going forward, a different feature of the Financial System Enhancements will be highlighted in order to help prepare for the upcoming changes.

FSE Highlight: COA Structure, Segments, and the Entity Segment

Chart of Accounts Structure: The COA Structure identifies how you will account for transactions. There will be two structures: one for the General Ledger and one for “Grants”, which will encompass Internal Awards, Capital Projects, and Sponsored Projects.

Segments: Segments are components of an account string. Each segment has a name and defined length. Natural account is six digits in the current structure. The new COA Structure will be comprised of six segments, each with a defined segment length and set of possible values.

Chart of Accounts Segment Structures

 

 

 

 

The Entity Segment 

Entity Segment

The Entity segment identifies how the transaction is summarized for financial reporting. It represents major components of the University that require a separate balance sheet/external reporting (legal entities, auxiliary operations, etc.) such as Ohio University or OU Foundation. The entity segment values will be the same across all Planning Units. 

 

Examples: 

10 Ohio University General
14 Century Bond
21 Culinary Services
50 Foundation General
80  University Agency Funds

 

 

 

 

Questions? Visit the COA Website for information, reach out directly to your Planning Unit’s Change Network member(s) to share feedback or ask questions, or contact the FSE Project Team at coa@ohio.edu.