Chart of Accounts

Following is some useful information regarding the use of the Chart of Accounts used by UTS:

• What is the Chart of Accounts (CoA)?
• Why do we have a CoA?
• Why did the CoA change?
• What was the change?
• What are the newer segments?
• When do you use the CoA?
• What support is available?

What is the Chart of Accounts (CoA)?

The CoA is a list of all account names and numbers illustrating UTS organisation hierachy.

Why Do we have a CoA?

The CoA is used to classify revenue, expenses, assets and liabilities in accordance with UTS management structure, to ensure the appropriate people are responsible for the costs that they control and allow reporting by different categories.

Why did the CoA Change?

1. Our old Current Chart of Accounts was 10 years old, and did not meet the University's internal and external reporting needs.
2. As a result of the shift from cash to accrual accounting.
3. To provide senior leaders with more accurate and detailed financial information to make good decisions.

What was the change?

2 Segments - cost codes & category codes to 7 segments

What are the newer segments?

Company                   00             UTS or Associated
                                                Organisation

Organisation Unit    000000      Faculty/Unit/Division

Location                    000            Campus/Division/Unit

Activity                      0000000    None or Specific Project
                                                Research Grants

Natural Account       00000        Type of Expense, Income,
                                                Asset, Liability

Future                       00000         (Defaults)

Intercompany           00               (Defaults)

When did the new CoA come into force?

 From Monday 5 January 2004 for:

1. Invoices - Payment request
2. Mail
3. Long Distance Phone Calls
4. Timesheets
5. Printing Services
6. Everywhere you would use a cost centre/Project Code or Category Code

What Support is available?

There are two tools available to help you during the transition as you learn your new numbers.

1. The Mapping Tool
2. The Coding Dictionary

The Mapping Tool is an excel spreadsheet that allows you to type in your current cost centre and category code, and will then automatically tell you what the new natural account code.

The Coding Dictionary is an excel spreadsheet which lists all account names and numbers, and includes an explanation for when you would use the code.

There is also an educational presentation attached if you would like more information about the CoA change.

Further Information

Payment Requisition Form/Stamp

From 2004, the Payment Requisition form has not been used. However, you can purchase a stamp from Corporate Express. Please contact your CoA representative for more details.

If you would like to know more:

• ask your local CoA representative
• review the CoA presentation