What is the impact on the financial system and reporting when incorrect ChartFields are used?
Incorrect ChartFields create errors that misrepresent money activity and can have domino effects on other processes, causing further consequences. For example, the use of a revenue account instead of an expense account with Fund 101 to pay a vendor. Reporting will miss that expense and spending authority will not get decreased because a revenue account in Fund 101 does not update Commitment Control.
