A SpeedType is a shortcut to enter a chartfield string. When you create a SpeedType, you have ten (10) alphanumeric characters to identify it. All SpeedTypes are shared across the University, so be sure that your naming convention adheres to a standard that makes it easy for you and others in your unit to search for and identify.
SpeedTypes should not include an Account or Budget Reference. Since these ChartFields designate where and when a transaction is posted, these fields should be entered manually on each transaction to ensure accuracy.
Note: After you have successfully created a SpeedType, an equivalent Accounting Tag will be created. This will happen using a process that will run on a scheduled basis. It will be scheduled nightly and may be scheduled more frequently as needed. If you need an accounting tag to be created more immediately, contact Central Accounting and ask if the program to create Accounting Tags can be run.
In this topic you will learn how to create a SpeedType for easier entry of Chartfield strings.
In this article, you are creating a SpeedType to be used for Marine Science administrative expenses that are covered by state appropriate funds. To create a complete SpeedType for expenditures, you will need to have the following values in your SpeedType:
Fund Code: RI-State Appropriations (10000)
Program: Instructional-Departmental Admin (11140)
Department: MARS Marine Sci Admin (19250110)
Class: State Appropriations (11200)
First log onto https://financials.onesource.uga.edu/
SpeedTypes are entered from the Classic menu.
Click the Classic Home tile.
To navigate to the Speed Types page, select:
Main Menu > Set Up Financials/Supply Chain > Common Definitions > Design Chartfields > Define Values > SpeedTypes
Click the SpeedTypes link.
The SpeedTypes search page is displayed. If you are modifying a SpeedType, you would use the Search Criteria to locate the SpeedType you wanted to change.
Click the Add a New Value tab to add a new SpeedType value.
A SetID is required for each SpeedType. A SetID indicates who owns the values being used. SpeedTypes are used across the entire university so 18000 will be used for all SpeedTypes and Accounting Tags.
Note: The SetID of 18000 is a key value to identify data that is shared across all University units.
Enter appropriate information into the SetID field. Enter "18000".
The SpeedType Key is the ten-character shortcut name you will give to the SpeedType. This should be easy for you to identify in search lists.
Note: A recommendation is to start your SpeedTypes with the first two digits of your unit. This will help you find it more easily when searching.
Enter the appropriate information into the SpeedType Key field.
In the SpeedType Key field, enter "19250Admin".
Note: The User ID field must be left blank
in order for the SpeedType to function correctly.
The SpeedType page is displayed. You will use this page to enter the appropriate Chartfield values to appear each time you select this SpeedType. Notice that the SetID and SpeedType Key you entered on the Add a New Value page are displayed as part of the definition.
The Description is the long name that will describe the SpeedType value. This will show in Search Lists so choose a description to help you select the correct SpeedType.
This field allows up to 30 characters and you may use spaces.
Enter the appropriate information into the Description field. Enter "RISAMARSDeptAdmin".
The Account and Budget References will default as blank. It is UGA policy not to enter these as part of a SpeedType .
Note: Since the Account and Budget Reference designate where and when a transaction is posted, these fields should be entered manually on each transaction to ensure accuracy.
Leave these fields blank.
To make the SpeedType efficient, you can enter common combinations of the chartfields used to record transactions. Be sure to check the combinations of fields that are permitted.
For most expense transactions, a complete SpeedType includes Fund, Program, Class, and Department ID. There are different rules for project-related transactions.
Enter the appropriate information into the Fund Code field or use the search features to find the value.
Example shown here: enter "10000".
Enter appropriate information into the Program field or use the search features to find the value.
Enter "11140".
Enter appropriate information into the Department field or use the search features to find the value.
Enter "19210102".
Enter appropriate information into the Class Field field or use the search features to find the value.
Enter "11200".
Since you will enter the Account and Budget Reference into each transaction, this is all you might need for a non-project-related SpeedType .
If you were creating a SpeedType for a project, you would need to add values for the PC Business Unit, Project, and Activity.
After you save the SpeedType, it can be used in various types of transactions.
This page displays how it can be used to populate the ChartFields in a General Ledger journal transaction.
Enter the SpeedType "19250ADMIN".
After entering a SpeedType and you tab out of the field, the chartstring values associated with the SpeedType will be populated into the appropriate fields.
The fields are editable if you need to make changes.
You have successfully completed the steps to create a new SpeedType .
A scheduled process will recognize the new SpeedType and create an equivalent Accounting Tag.