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Welcome to the Business and Financial Services Web site. Our office is located on the second floor of Downing Street. (View the campus map.) These pages are here to assist students, faculty and staff. |
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Business and Financial Services Office
Understanding Accounting Codes
1. Purpose
To explain the Clark University accounting system
for departmental expenses and earnings to all employees of the University.
2. Overview
Clark University's accounting system operates
electronically and generates a General Ledger and related subsidiary reports
of monthly expenses and budget status. Each accounting entity is made up of four segments, or codes that define
exactly to which department account funds are directed to, and from which
account funds are being withdrawn. Following
is a guide to the four types of accounting codes used in Banner.
3. Fund
The Fund code is a code of up to six characters indicating the type of fund to which the account belongs. The first two digits of the code indicate the fund source of the account. -
10XXXX - Operating expenses. 10OPER, 10COPA, 10RENT, and 10HOUS all fall into this category.
15XXXX - Designated funds that are segregated from operational funds for reasons determined by management. Short term project, special events, and student organizations fall into this category. 20XXXX - Restricted spending accounts primarily funded by earnings from an endowment. 21XXXX - Funds restricted by donor for particular purposes.This category is also funded by earnings. 2AXXXX - 2ZXXXX, 23XXXX - 24XXXX - Federal, State, local, and private grants. 40XXXX - Student loan funds. 60XXXX - True endowments and funds functioning as endowments. 71XXXX - Annuity funds. 72XXXX - Unit trust funds. 80XXXX - Plant funds for the physical facilities of the University. The Organization code (ORGN) primarily correlates to a departmental budget, and general indicates a department or a
cost center or projects within a department. Some organizational codes are restricted to University revenues.
5. Program
6. Account
The Accounting code (ACCT) correlates to the exact expenditure of the account. 1XXX - Asset, referring to the balance sheet account. 2XXX - Liability, also referring to the balance sheet account. 3XXX - Control account to the General Ledger. 4XXX - Net asset and/or a fund balance. 5XXX - Revenues. 6XXX - Compensation, including payroll and fringe benefits. 7XXX - General expenditure account.
7. Index numbers
Finally, apart from the four accounting codes, index numbers (INDEX) may also used in defining an accounting entity. The index number acts as a short cut for commonly used account strings. In some instances, entering only an index number in Banner will default in the appropriate FUND, ORGN, and ACCT codes relevant to that particular charge.
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