CU's financial data coding structure uses "Chartfields", which consist of ten blocks (database fields) of information that tell the system precisely how to record a transaction. Some values are defaulted, some are optional, and the others are required to be entered by the system user:
Business Unit - Defaults to UCOLO.
Fund - Identifies the source of the money being received and spent. You'll learn much more about funds as we go...
Organization - Identifies the campus/department/school/reporting division spending or receiving the funds.
Program - Identifies a fiscal-year based University activity.
OR
Project - Identifies a non-fiscal-year-based University activity.
Sub-Classification - Optional - Allows financial tracking of related activities under a main activity.
Account - Describes the asset, liability, revenue, expense or transfer in a transaction. This is another important term that we'll discuss quite a bit later in this course.
Budget Year - Defaults to the current fiscal year. You'll learn more details about CU's fiscal year later in this course.
Statistics Code - Optional - not used.
Currency Code - Defaults to the US dollar (USD).
