AptaFund features a flexible account organization. You control the format and contents of account codes by establishing an account structure, defining the elements that will make up the account code for that structure, and defining values for each element.
You defined your chart of accounts when AptaFund was implemented in your district, but you can use the Chart of Accounts module to edit the COA and/or create a new one.
There are 5 parts in the Chart of Accounts module: Structure Maintenance, Element Value Maintenance, Accounting Cycle, Chart of Accounts, and Account Mapping — used for rolling over the chart of accounts for a new cycle.
Account structures are not accounting cycle — fiscal year — dependent, so you can define one account structure and use it until you're required by the state to change it.
One account structure must be defined in order to create account codes; however, you can define as many account structures as necessary. For example, if state reporting requirements are changed for the new fiscal year, you can add another account structure. AptaFund also allows you to disable and enable elements in a structure so you don't have to create a new structure when elements are no longer used.
In AptaFund, an element represents a piece of an account code. For example, in the account code 111-2222-33-4444, each set of numbers — 111, 2222, 33, and 4444 — represents a different element. The elements represent categories — such as fund, program, function, object, or unit.
The values that you define for each element also carry meaning. For example, you may define a Site element and create element values like 001, 002, 003, etc. to represent each of your schools.
You can create account codes in your organization's required format. Account codes can contain up to 64 elements/segments, and the total length of the account code, including hyphens, can be 255 characters.
By defining element values, you ensure that each account code will be meaningful and valid.
You can restrict the use of account codes based on an element value. For example, if you don’t want salary accounts to be used for computer purchases, you can prevent element values for salaries from being used in the Purchasing module.
You can establish an account code hierarchy based on the structure’s elements. This allows control of general ledger aggregation roll-ups and the ability to view account code elements in any order — for example by fund, by function, by object, by site, etc.
Since account codes are treated as segments rather than single units, users can search for accounts based on any or all of the elements without using wild cards.
You can filter and sort on any element of an account code, which allows you to fine-tune reports.
In the Structure Maintenance window:
Define the elements — segments/categories — that will make up the account code for that structure.
Set the fund and controlling elements for the structure.
In the Element Value Maintenance window:
Define values that can be used for each element when creating an account code.
Define balancing account element values that will be used to create default balancing accounts for certain transactions.
In the Accounting Cycle window:
Create an accounting cycle to cover the fiscal year.
Create periods for the accounting cycle either manually or automatically.
In the Chart of Accounts window, add accounts to the chart of accounts.
About balancing accounts & balancing account types
About required balancing accounts
About due to / due from balancing accounts
About static elements in an account structure
Fund & controlling elements in an account structure
Rolling over the chart of accounts
COA Reports & Exports overview
Return to AptaFund Overview
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4.1 © 2020 - Harris School Solutions - All rights reserved