FIS Accounts – Establishing Changing and Deactivating

In order to process and record their financial transactions, departments require accounts. The term “account” as used throughout this guide is a generic term referring to any of the FIS codes that departments are required to use in order to process financial transactions (e.g. GL accounts, Cost Elements, Fund Centers, Funds, Cost Centers, Internal Orders) as described in the GTFM section Introduction to FIS.

This section covers in detail the purpose and establishment of the various accounts.

FIS Master Records Required by Departments (FM and CO modules)

FIS Master Records (FI Module) – Revenues, Expense and Balance Sheet Accounts

Vendor and Customer Accounts

FIS Master Records Required by Departments (FM and CO modules)

FIS master record creation and changes are requested by departments using FIS Master Record Forms. These FIS master records, which are part of the Funds Management (FM) and Controlling (CO) modules, include the following:

FM Master Records

Fund Centers (or Commitment Fund Centers – CFCs)

• New CFCs could be required as a result of a departmental reorganization or establishment of a new program. To establish a new CFC, or to change an existing CFC, complete the appropriate Request Create / Change FIS Master Records: CFC form.

Principal Investigator CFCs

• To establish or change a CFC for a principal investigator, complete the appropriate Request to Create / Change FIS Master Records: PI CFC and PI CC form .

Funds for a Research Award

• The creation of a fund for a new research award is handled by Research Services.

Funds for Non-Research – Trusts, including Student Awards

• The creation of a fund for a trust or student award funded by donations is created by Donations Management, Division of University Advancement. Refer to the sections on Trust Funds and Student Awards for more information.

Funds for Non-Research – Grants and Contracts

• The creation of a fund for a non-research grant or contract is created by Trusts and Investment Accounting, Financial Services Department. Refer to the section on Non-Research Grants and Contracts for more information.

Funds for Capital Projects

• Capital Project funds are created by Capital Accounting, Financial Services Department.

Conference Accounts(Funds and Internal Orders)

• The section Conference Accounts provides detailed requirements for setting up University sponsored conferences which are funded by conference fees.

CO Master Records

Cost centers

New cost centers could be required as a result of a departmental reorganization or establishment of a new program. To establish a new cost center, or change an existing cost center, complete the appropriate Request to Create / Change FIS Master Records: Cost Center form .

Cost center groups

• New cost center groups could be required as a result of new departmental reporting requirements. To establish a new cost center group, or change an existing cost center group, complete the appropriate Request to Create/ Change FIS Master Records: Cost Center Group form .

Principal Investigator CCs

• To establish a cost center for a principal investigator, or to change an existing cost center, complete the appropriate Request to Create / Change FIS Master Records: PI CFC and PI Cost Center form .

Internal orders

• New internal orders could be required to track revenues and expenditures for an activity with a limited timeframe. To discuss the need for an internal order, contact your FAST Team Representative. To establish a new internal order, or change an existing internal order, complete the appropriate Request to Create / Change FIS Master Records: Internal Order form .

If you need to deactivate, or have a “no post” status on an account, please contact your FAST team representative.

FIS Master Records (FI Module) – Revenue, Expense and Balance Sheet Accounts

Revenue and Expense G/L Accounts (including cost elements)

Balance Sheet G/L Accounts

• New balance sheet G/L accounts are rare. To discuss the need for a new account, contact the Manager, Operating Accounting

Vendor and Customer Accounts

Customer accounts

• These accounts are created centrally by Accounts Receivable, Financial Services Department.

Vendor accounts

These accounts are created by the Financial Services Department or Procurement Services, depending on the nature of the account. Of particular interest to departments:

• Commercial vendors are generally created by Procurement Services,
• Employee vendors are created automatically via an interface with HRIS,
• All other vendors are created by Accounts Payable, Financial Services Department, including:
  • Petty Cash Accounts,
  • Imprest Expenditure Bank Accounts,
  • Accounts to Record Deposits Received (e.g. for room keys, lockers, etc.) which will eventually be returned to the student/staff member)
  • Cash Float Accounts (to record the receipt of cash by a department from the University for the sole purpose of making change)

If a department has account needs not addressed above, please contact:

Manager, Financial Advisory Services and Training (FAST) Team
Financial Services Department
215 Huron Street, 2nd Floor
416-978-2802

Last revision November 2006