Use CF2 for All Funds Access

CF2+Attribute Delivers Fund Data to Faculty

PI Portfolio references ChartField2 values with the Attribute “PI/FACULTY” (which identifies a specific faculty member by name and employee ID) to pull financial transaction data linked to faculty. Therefore, transactions without the correct CF2 in the chartstring, or with a CF2 not attributed to a specific faculty member, will not report correctly in PI Portfolio.

PI Portfolio looks at BFS ChartField2 values attributed “PI/FACULTY” to pull transaction data linked to specific faculty-managed funds and report it.

For example, a CF2 described “Mary Jones travel expenses” might not ever be used in association with funds managed by Mary Jones, while a CF2 described “program assistance” may be funded solely by Mary Jones' budget

IF a CF2 value...

and the Attribute is...

THEN...

represents a specific faculty member
(e.g., Jones, Mary)

PI/FACULTY

you’re all set! This data is correctly coded for PI Portfolio

represents a specific faculty member
(e.g., Jones, Mary)

NON C&G ATTRIBU
or
NONE OF ABOVE

CHANGE the Attribute to PI/FACULTY and select the correct name and emp ID from the Lookup list

is used for transactions related to one specific faculty member’s funds (e.g., ‘M. Jones outreach activities’)

anything other than PI/FACULTY

ADD a second Attribute for PI/FACULTY and select the correct name and emp ID from the Lookup list (do not revise the original Attribute)

is used for transactions related to several faculty member’s funds (e.g., ‘community outreach activities’)

anything

a journal transfer* will be necessary to identify these transactions related to specific faculty (see below)

UPDATE ATTRIBUTES FOR EXISTING CF2s

Note: only BFS users authorized to edit Chartfield values can update Attributes. Use the Chartfield 2 Lookup feature in BFS to change (or add to) the Attribute for existing CF2 values used solely to track expenses related to faculty-managed funding allocations. Select the correct faculty name and emp ID from the Attribute Lookup list. You do NOT need to change the CF2 value itself, just revise the Attribute. Step-by-step instructions for changing ChartField2 data are available here

*REVISE CHARTSTRINGS USING JOURNAL TRANSFER

Some transactions do not have a CF2+Attribute that can be associated with a single faculty member. There are two options to correct existing transactions so data will be retrievable in PI Portfolio:

  • Journal the current balances as of today with a single multi-line journal. This method will deliver the correct fund balance in PI Portfolio but will not display any past expense detail.

OR

  • Do journal entries to transfer individual balances from the “old” chartstring to one with a CF2 Attributed PI/FACULTY for a specific faculty member. This method will deliver budget and expense details as of the beginning of the current fiscal year.

Be sure to transfer all balances -- funds (account 3xxxx), revenue (account 4xxxx), expenses (account 5xxxx), and transfers (account 7xxxx) -- so all faculty-managed financial activity is reported in PI Portfolio.

Using CF2s to identify faculty transactions is an emerging standard for the Chart of Accounts, and many departments are already doing so. Ensure all future transactions for faculty-managed funds always use a CF2+PI/FACULTY attribute.