Accounting Flexfield Examples
The following illustrates a possible Accounting Flexfield and provides explanations of each of the Accounting Flexfield Segments. It should be pointed out that the segments have their own meaning without dependence on the other segments. However, the various combinations of segments into Accounting Flexfields must be appropriate combinations. For example, only the Athletic Department should be able to use the revenue source for Ticket Sales – Athletic Events.
The important point is that the independent nature of account segments will provide some ease of understanding to the Chart of Accounts. For example, a unit with five funds but one basic organizational activity will be able to use the same Departmental Activity value for every Accounting Flexfield. A separate Accounting Flexfield will be identified by each combination of the single Departmental Activity value with the five Fund values (all other segment values held constant).
The Accounting Flexfield is illustrated below. Corresponding segment explanations follow.
Accounting Flexfield Number 11.123450001.12345678.5100000.210.9999999911. Campus 123450001. Departmental Activity 12345678. Fund 5100000. Line 210. Function
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