The University of Chicago

Financial Services

  

Accounting Systems

Financial Accounting System (FAS)

The Financial Accounting System (FAS) is the software used by the University to record all of its financial transactions. FAS was installed in 1983 and is an integrated general ledger and revenue/expenditures reporting system.

FAS On-Line is available to financial administrators and their staff. FAS on-line allows the user to (for those accounts the user is granted access):

For additional information on the inquiry screens available in FAS, please refer to the Quick Guide.

Monthly ledgers are currently available online after the month-end close to account administrators and their proxies.

For information about adding/deleting FAS accounts, account administrators/authorized signers, changing the status of accounts,etc. refer to FAS Maintenance.

Click here for information on obtaining access to FAS.

Training: FAS training courses are scheduled periodically throughout the year. To search for courses, click here and search for "FAS Overview." A copy of the training material, please click here.

Account Create and Cost Transfer System (ACCTS)

The Accounts Create and Cost Transfer System (ACCTS) is an on-line program that allows a department to create FAS accounts (limited to Financial Services and LBC staff), and to enter journal entries, expenditure transfers, and indepartmental orders.

ACCTS FAQs:

How do I receive ACCTS system access?

ACCTS access can be requested through the ACCTS/PETS Access Request website: https://accts01.uchicago.edu/acctspetsrequest/

Where do I go to log into ACCTS?

The ACCTS homepage can be accessed by clicking here. To process journal entries (JE), expenditure transfers (EE) or interdepartmental orders (DD), users should select the "Run Cost Transfer Module only (CT)" and log into the system with their CNet ID and password.  

What is the difference between a JE, EE and DD?

I need to transfer payroll expenses. Can I use ACCTS?

No, payroll transfers should be processed through PETS regardless as to whether the payroll transfer is on an unrestricted or restricted FAS account. If an employee is transferring departments, the transfer of accrued personal holiday and vacation time should be done utilizing a non-mandatory transfer subaccount.

Is there a deadline to submit entries?

Yes - entries must be submitted no later than 3pm on Friday (or other date as defined by the month-end or year-end close schedule). However, 3pm is always the time cutoff for entries. An unapproved entry will have a status of "submitted." Once approved the status will update to "approved." Approved entries submitted to FAS during the daily processing (see next question) will change to a status of "processed." There may be instances where an entry is submitted before 3pm, but is not approved by Financial Services the same week the entry is submitted. This may be due to additional reviews or inquiries needed to be performed by Financial Services prior to entry approval. If a user has a questions about an unapproved entry, they should contact the assigned reviewer shown on that entry.

When will I see my entries in Business Objects?

ACCTS is fed to FAS each day around 4pm and FAS updates once a week (or according the month-end or year-end FAS close schedule). Entries must be approved by Financial Services in order to be picked up by the FAS batch processing update. Therefore, approved entries will be available in the next week's business objects run.

My entry was rejected by the approver. Is there a way to receive notification when an entry is rejected?

Yes - to enable the feature to receive email notification of any rejected JE/EE/DD's, log in to the Cost Transfer Module. Once logged in, scroll over to the File icon and select Preferences. Within the pop-up screen, click the box "Receive email for rejected transactions." For any rejected entries, the Financial Services approver will leave comments within the entry regarding the reason for the rejection. To see these comments, the user can print the entry or edit the entry.

What are the year-end deadlines for ACCTS?

The year-end close schedule, as well as ACCTS deadlines, is available here. Please note that during year-end, the ACCTS system will remain open for June entries through Close 3. Entries may only submitted by the authorized divisional representatives during Close 3. Entries submitted during Close 3 by anyone not on the approved list will have those entries rejected.

Need more help?

Please click here for the ACCTS Cost Transfer Module training guide.

Useful Resources:

Financial Accounting System Users manual (FAS Manual) http://adminet.uchicago.edu/fasmanual/docs/21.shtml

ACCTS Home Page https://accts.uchicago.edu:5443/

For general accounting questions, please contact genaccounts@lists.uchicago.edu.


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