The many reference pages where chart of account codes are defined contain consistent fields for control and informational needs. Several element and sub element pages contain other fields for collecting information and defining controls that are specific to the element. The common fields are discussed in this topic and those unique fields are covered in the later discussion of the element.
When a code should have data entry control for accounting or budget transactions, one or both effective dates can be used to define the first date, last date, or range of dates a code can be used. In this way, you can control the time frames during which elements are used, therefore allowing control over how monies are used and recorded. The dates are edited against the Record Date of the transaction on which you are using the code. Keep in mind if the Record Date is blank the edit is using the current Application Date. When outside of the range, the application considers the code invalid.
The dates are optional and should only be used if there should be a restriction.
NOTE: These effective dates are not part of the keys to their respective elements as is the case with similar dates found on human resource and payroll reference pages. Also, since the edit for effective use dates is a rejection error, ensure there is no outstanding activity or need to record an adjustment to a code before setting the Effective To date, else the date will have to be lifted before that activity can be successfully recorded.
When you want to 'wind down' activity against a particular COA code, there is an Active indication. The edit for an inactive code is not as restrictive as effective use dates as it produces an overrideable error message unless a transaction code has been established to allow inactive codes. Such setup is common on journal voucher for making adjustments and later transactions in a referencing chain to allow what has started against code to complete. The Transaction Control (DCTRL) option to allow a transaction code to use inactive codes without error is Inactive COA Codes Allowed.
When budgeting is done with a chart of account element or rollup, but not all codes in that element or rollup should be budgeted, there is a Budgeting indication that when set to no will result in budget transactions rejecting if the code is used.
A common use of this flag is to flag a code in the current fiscal year as not allowed for budgeting when it was in the prior year. A budget exists in the prior year for the code but does not and should not in the current year. The code has to exist in the current year to allow payments of open items at the end of last year.
All chart of accounts elements have the optional ability to associate a contact for reporting purposes. Contacts are established on the Contact (CNTAC) reference page. Chart of Accounts reference pages will display the Name, Phone, Extension, and Email Address of the contact code selected.
All chart of accounts element pages have three descriptive fields: Name, Short Name, and Description. The first two are required and the third is optional. The Short Name is most often displayed within the application and on reports to provide more information than just a code value to users when space is limited. The full Name can be used if its length can be accommodated.
A select set of reference pages contain an additional Extended Descriptive field for recording any type of information deemed necessary.