1300 PR.01 Requesting, Modifying, and Closing Chart of Accounts Segments

Contents

1.     Overview

2.     Requesting New and Modifying COA Segments

3.     Closing COA Segments

4.     Timing of COA Segment Maintenance

This procedure assumes an understanding of the Chart of Accounts (COA), as implemented at the University.  For detailed information, refer to the Chart of Accounts website and to Policy 1300 Chart of Accounts Governance.

This procedure is intended to help users make informed decisions about requesting new, modifying, and closing COA segments.  It is further intended to assist in the preparation and completion of the COA Request Forms.

A.  Individuals who may request new or request to modify COA segments

Any person authorized by a department’s Lead Administrator or central process owner within University Finance may submit a request for new or to modify COA segments.  There are certain segments where the Chart of Accounts unit expects requests to come solely from University Finance central process owners.  Requests to modify can be made at any time.

B.  How requests for new and requests to modify are made

Appropriate request forms, with full instructions, can be found on the Chart of Accounts website via the above links.  Completed forms should be sent by email to coa@yale.edu.  Complete all sections of the form.  All fields are required, unless otherwise stated.

There are two exceptions for new and modified segments:

• Gift – all requests to establish or modify a Gift should be submitted to giftawards@yale.edu.
• Grant – all requests to establish or modify a Grant should be coordinated as part of the Award setup process through proposal development or via submission to the Office of Sponsored Projects (“OSP”) via a TranSum.  If that process is complete, please coordinate with the departmental contact in OSP.

Requests associated with Gift Hierarchies and Grant Hierarchies are not part of this exception and must be sent to coa@yale.edu.

C.  Departmental review of requests for new and requests to modify

All request forms require departmental review and approval prior to submission to the Chart of Accounts unit.  Please note that the requestor and department approver should be different people.  The department approver must have authority over the cost center or business area and is typically the Lead Administrator or Operations Manager.  Requests originating from University Finance central process owners generally require the approval of the cognizant Associate Controller, Controller, and/or Budget Director.  Approval can be indicated in one of three ways:

• Approver sends the request to coa@yale.edu;
• Approver is carbon copied on the request submission; or
• Approver’s authorization is included in the request’s email string.

Cost Center modifications that impact more than one Planning Unit will require coordination with the following:

• Chart of Accounts unit;
• Lead Administrator of all impacted Planning Units; and
• Office of Financial Planning & Administration.

Additional approvals outside of the requesting unit are required in many instances.  The Chart of Accounts unit will facilitate those approvals.

D.  Providing additional information or revisions

If the Chart of Accounts unit requests additional information or revision:

• Enter the additional data or make the appropriate changes to the form; and
• Resubmit the form for approval.

E.  Receive notification of approval or rejection

The Chart of Accounts unit will notify the requestor when a decision has been made on the request.

Avoid common mistakes by:

• Filling out the form clearly, completely, and correctly;
• Determining if the action taken is the best way to proceed; and
• Ensuring that you understand the COA segment definitions and how each one should be used.

F.  Review of confirmation decision

Once the requestor receives confirmation of a request from the Chart of Accounts unit, review the information provided to confirm that it corresponds with the request.  In conducting this review:

• Ensure that the information and detail is consistent with the request;
• Review and verify any changes made to the request by the Chart of Accounts unit;
• Notify the Chart of Accounts unit immediately if there are discrepancies, or if there are questions;
• Communicate changes or charging instructions to all impacted parties;
• Update charging instructions or costing allocations in financial systems, as applicable;
• Review and modify access and roles/permissions, as applicable; and
• Update scheduled reports and custom report filters, as applicable.

Any person authorized by a department’s Lead Administrator or central process owner within University Finance may submit a request to close COA segments.  There are certain segments where the Chart of Accounts unit expects requests to come solely from University Finance central process owners.  Requests to close can be made at any time.

B.  How closure requests are made

In order to close a COA segment, all pending transactions must be processed, certain balances must be cleared, the segment must be removed from all costing allocations and position restrictions, and all commitments must be cleared.  The departmental requestor is responsible for performing the majority of these actions.  A checklist is available to assist departments with these actions. 

Appropriate request forms, with full instructions, can be found on the Chart of Accounts website via the above links.  Completed forms should be sent by email to coa@yale.edu.  Complete all sections of the form.  All fields are required, unless otherwise stated.  Closure requests should be submitted to the Chart of Accounts unit no later than three days prior to the calendar month-end to allow for central review and additional clearing entries, if required. 

There are two exceptions for segment closures:

• Gift – all requests to close a Gift should be submitted to giftawards@yale.edu.
• Grant – all requests to close a Grant should be coordinated as part of the Award closeout process with the departmental contact in OSP.

Requests associated with Gift Hierarchies and Grant Hierarchies are not part of this exception and must be sent to coa@yale.edu.

C.  Departmental review of closure requests

All request forms require departmental review and approval prior to submission to the Chart of Accounts unit.  Please note that the requestor and department approver should be different people.  The department approver must have authority over the cost center or business area and is typically the Lead Administrator or Operations Manager.  Requests originating from University Finance central process owners generally require the approval of the cognizant Associate Controller, Controller, and/or Budget Director.  Approval can be indicated in one of three ways:

• Approver sends the request to coa@yale.edu;
• Approver is carbon copied on the request submission; or
• Approver’s authorization is included in the request’s email string.

Additional approvals outside of the requesting unit are required in many instances.  The Chart of Accounts unit will facilitate those approvals.

D.  Providing additional information or revisions

If the Chart of Accounts unit requests additional information or revision:

• Enter the additional data or make the appropriate changes to the form; and
• Resubmit the form for approval.

E.  Receive notification of approval or rejection

The Chart of Accounts unit will notify the requestor when a decision has been made on the request.

Avoid common mistakes by:

• Filling out the form clearly, completely, and correctly;
• Determining if the action taken is the best way to proceed; and
• Ensuring that you understand the COA segment definitions and how each one should be used.

F.  Review of confirmation decision

Once the requestor receives confirmation of a request from the Chart of Accounts unit, review the information provided to confirm that it corresponds with the request.  In conducting this review:

• Ensure that the information and detail is consistent with the request;
• Review and verify any changes made to the request by the Chart of Accounts unit;
• Notify the Chart of Accounts unit immediately if there are discrepancies, or if there are questions;
• Communicate changes or charging instructions to all impacted parties;
• Update charging instructions or costing allocations in financial systems, as applicable;
• Review and modify access and roles/permissions, as applicable; and
• Update scheduled reports and custom report filters, as applicable.

The below guidelines regarding the timing of COA segment maintenance are general and subject to change:

• New segments – any time during the month
• Simple segment modifications (ex: rename project) – any time during the month
• Complex segment modifications or reorganizations (hierarchy changes) – after month-end close
• Segment closures – after month-end close

There are certain times of the year that reorganizations (also known as hierarchy changes) are limited or not performed.  As applicable, information will typically be posted on the Chart of Accounts website.

For significant reorganizations, it is recommended that requestors consult with the Chart of Accounts unit well in advance of the desired implementation date, as some reorganizations can be complex and require additional approvals or pre-work.