Chart of Account FAQs

• The Chart of Accounts support all CORE Financial management areas, such as Cost Accounting, General Account, and Treasury Accounting, by providing a robust means to post and summarize all transactions.

• CORE contains five primary Chart of Account Classifications.

  • Fund

  • Budget

  • Organizational

  • Departmental

  • Cost Accounting

OBSA stands for Offset Balance Sheet Account, a field to enter the Balance Sheet Account for the offset posting code.  

When debit offset or credit offset is set to Yes for an event type posting code (posting code A), it indicates the posting code is used to offset the other posting code (Posting code B). The posting code A is called offset posting code. The event type with offset posting code setting will combine debit and credit into a single posting line using the COA entered on the accounting line except for the posting code and balance sheet account. The BSA field will be used for primary posting code (Posting code B) while the OBSA field will be used for offset posting code (Posting code A).

Users are ONLY allowed to manually enter OBSA for the offset posting code when:

• • “Use OBSA from Actg line for Pair X” is flagged for the event type in the Event Type (ETYP) table

  • “Offset Override Allowed” is flagged for the transaction code on transaction control page (DCTRL)

If the OBSA field is left blank on the transaction accounting line, the OBSA will infer the default balance sheet account defined for the offset posting code (Posting code A) on the posting code (PSCD) table. For JV type transactions, because JVs are manual adjustments, BSA fields should ALWAYS be used for recording the balance sheet accounts.

Event type AP01 and Transaction code GAX will be used to demonstrate the concept here.