Chartfields are the building blocks of the University of Michigan's financial reporting structure. The following Chartfield elements are relevant to Sponsored Programs, and provide a common framework for internal and external financial reporting and analysis.
The account is the beginning of a Chartfield string.
A Fund Code is a value that identifies the source and intended purpose of funds and how they should be spent.
A Department is a value that identifies an academic or administrative unit.
Alpha Programs are designed to be used by units throughout the university, and numeric Programs are generally specific to an individual unit.
Class identifies the functional nature of an expense.
Project/Grant is a value used to identify a specific pool of money or activity over a finite period of time.
A Shortcode represents a string of Chartfield values.