Chart of Accounts
Introduction to Tufts' Chart of Accounts
A Chart of Accounts is an information structure used in all financial systems to define a set of accounting categories. The Tufts Chart of Accounts in the PeopleSoft Financial system is an organizing framework or coding structure used to budget, record, and report on financial transactions and account balances. All financial transactions are coded to an Account and DeptID. The Project/Grant chartfield is used with Account and DeptID for sponsored research and capital projects.
Account
- Classifies Assets, Liabilities, Net Assets, Revenue, Expenses and Transfers
- Examples:
- Revenue:
- 4002 "Tuition"
- 4512 "Parking Fees"
- Expense:
- 5301 "Domestic Travel"
- 5404 "Laboratory Capital Equipment"
- 5411 "General Office Supplies"
- 5532 "Tel. Equip. Charges"
- Revenue:
Certain Accounts are for Budget Only, while others capture actual expenditures. For example:
| Account Type | Account Number | Account Description |
|---|---|---|
| Budget Account | 5300 | Travel Expenses |
| Actual Expenditure Account | 5301 | Domestic Travel |
| Actual Expenditure Account | 5302 | Foreign Travel |
| Actual Expenditure Account | 5303 | Moving Expenses |
| Actual Expenditure Account | 5304 | Local (Auto, Bus, Taxi) |
| Actual Expenditure Account | 5305 | Non-employee Reimb. |
Each category of Accounts reside in a particular range
| Account Code/Category | Value Range |
|---|---|
| Assets | 1000-1999 |
| Liabilities | 2000-2999 |
| Net Assets Balances | 3000-3999 |
| Revenue | 4000-4999 |
| Expenses | 5000-5999 |
| Allocations (IDRs) | 6000-6999 |
| Transfers | 7000-7999 |
| Indirect Cost (F&A) | 8000-8999 |
All departments utilize the expense account codes when they are spending. Revenue accounts are utilized by many departments that have activities which generate revenues throughout the year, such as Dental and Veterinary clinics.
DeptID
- Represents a cost center within the University
- Divided into three elements:
Organizational Unit Codes: A - Arts, Sciences and Engineering B - SMFA@ Tufts University C - Central D - Dental School F - Fletcher School G - Tufts Launchpad H - HNRC M - Medical School N - Nutrition School P - Operations Maintenance R - University College U - University V - Veterinary School X - Auxiliaries
Project/Grant
- A cost center that captures and controls Sponsored Grant activities or Capital Expenditure Authorization (CEA) Project.
- The Project/Grant segment must be used with a linking DeptID ending in "001" (example: A130001).
Project Example:
Grant Example:
Chart of Accounts Reports
Complete, current lists of chart segments can be accessed via Access Tufts.