Introduction to Workday COA Printable Excerpt This printable

Introduction to Workday COA – Printable Excerpt This printable presentation is an excerpt from the Workday COA Introductory Video. For full details please see: • Workday COA Introductory Video • COA Segment Definitions Chart of Accounts information and resources are located online at: • COA Website coa. yale. edu/ • Workday COA page https: //your. yale. edu/work-yale/finance-and-business-operations/chartaccounts-coa/workday-chart-accounts 1

COA Segments Yale’s accounting system is built around the ‘segments’ of information within the chart of accounts. Different ‘segments’ tell us information like: How an activity was funded Grant Which Department incurred the expense or earned income What activity the unit engaged in (e. g. , mission, line of business and detailed activities) How to “account” for something purchased or sold Gift Yale Designated Cost Center Program Ledger Account Project Spend / Revenue Category 2

COA Individual Segments – Company Yale Berkeley Divinity School Company represents a legal entity with its own tax ID that requires standalone external financial and tax reporting. For most users, the only Company will be Yale University. Other Agencies 3

COA Individual Segments – Grants Grant, Gift and Yale Designated are a group of segments that represent a detailed “funding component”. Generally, only one is required on financial transactions in Workday. The only exception is for cost sharing. When there is cost sharing, account used on a transaction, the user will first enter the Grant number and then will enter the other funding component (Yale Designated or Gift) that is providing the cost sharing. Direct Charge Grants track activities funded by sponsors. Cost Share If a notice of award requires multiple sets of charging instructions, there will be multiple Grant numbers. Sub-Award Clinical Trial 4

COA Individual Segments – Gifts Endowment Gift Current Use Gift All donor contributions are tracked in Workday in a Gift and are considered endowment gifts or current use (e. g. , ‘spendable’) gifts. 5

COA Individual Segments – Yale Designated Unrestricted Operating Provost Funded Unit Funded Discretionary Yale Designated represents funding that is not subject to external restrictions (by agreement with sponsor or donor contribution). Yale Designated may be internally allocated or designated (e. g. , discretionary, reserves, startup, internally designated funding arrangement, etc. ). 6

COA Individual Segments – Cost Center General Medicine History Department Controller’s Office Cost Centers identify financial responsibility and management for officially acknowledged business units (e. g. , departments, sections, etc. ). Cost Center is used for both local and University-level management reporting. 7

COA Individual Segments – Program Instruction Research Student Support Services School and Unit Administration Programs identify ongoing functional activities at the level of detail required to regularly answer questions and provide reports to Deans, Chairs and Directors. Program is used for local and University-level management reporting and for external reporting. 8

COA Individual Segments – Project Capital Project Exhibition A Chess Club Projects are used to accumulate costs related to an activity that is more limited in scope than Program and meets local reporting needs below the Dean, Chair or Director level. History 101 9

COA Individual Segments – Assignee allows for tracking by the individual (primarily faculty, Deans, Directors) where the individual is responsible for financial activity and balances. Net ID This segment is optional. However, the School of Medicine has required Assignee to be used on all financial transactions going to accounts under the control of faculty. 10

COA Individual Segments – Spend Category Equipment Computer Supplies Chemicals Professional Services Medical Spend Category provides a more granular view of the expenses incurred for transaction analysis and is required on all expense transactions. Internal Expense - IT FTE Bundle 11

COA Individual Segments – Revenue Category Tuition Patient Care Income Revenue Category provides a more granular view of the revenue earned for transaction analysis and is required on all revenue transactions. Ticket and Admissions Income 12

COA Individual Segments – Ledger Account Tuition Income Patient Care Income Ledger Account provides budget and actual accounting information for the general ledger. These are the natural accounts that make up the financial statements in Workday. M&P Salaries On most transactions, the system will populate Ledger Account based on the Revenue or Spend Category provided. Materials & Supplies Expense For journal entries, Ledger Account will need to be entered. Advances 13

COA Individual Segments – Fund Unrestricted Operating Grants & Contracts Federal Fund represents the high-level source of funds for external financial reporting and defaults from other segments. Temporarily Restricted Gift Income 14

COA Individual Segments – Location In Workday Financials, assets are assigned to Locations – MEI to rooms and fixed assets to buildings. 25 Science Park 221 Whitney 333 Cedar St. Location replaces ‘building org’ in Oracle to capture transaction detail for University plant / buildings only. There are specialized units and users that use ‘building orgs’ today. These are the only units that would put financial transactions on building locations in Workday. The accounting guidance for what can be charged to a building remains unchanged. 15

COA Individual Segments This graphic shows all of the COA segments. The order is consistent with how they appear in most transaction data entry screens. SC: Equipment Computer Instruction Yale Berkeley Divinity School Other Agencies General Medicine Research Gift Values History Department Student Support Services Grant Values Controller’s Office Yale Designated Values School and Unit Capital Project Exhibition A Net ID Chess Club RC: Tuition History 101 RC: Ticket & Admission Income Administration Company 1 of: Yale Cost Designated Center Gift or Grant SC: Supplies - Chemicals Program Project Assignee* *Optional Tuition Income Patient Care Income M&P Salaries Materials & Supplies Expense Unrestricted Operating 25 Science Park Grants & Contracts – Federal Temporarily Restricted Gift Income 221 Whitney CHEFA Series Z) 333 Cedar St. Advances Ledger 1 of: Spend / Account Revenue Category Fund User provides only on journal entries; system derives otherwise Location* Debt Line* Specialized users only (e. g. , Facilities) Controller’s Office only *Optional 16