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Account Code

Overview

The Account Code is a six-digit field used to classify financial activities and balances within the General Ledger.  The first digit of the account indicates whether it is a balance sheet or income statement item, as defined below.

Balance Sheet – Accounts Typically restricted to Finance and Accounting Core offices only.

1XXXXX – Assets

General Ledger account codes 111000 to 199000.  These account codes consist of Cash, Investments, Accounts Receivable, Inventory, Capital Assets, and other assets.

2XXXXX – Liabilities

General Ledger account codes 211000 to 299000.  These account codes consist of Accounts Payable, Payroll Liabilities, Unearned Revenues, Long-term liabilities, and other liabilities.

Income Statement – Accounts used to record financial activity in during the fiscal year.

4XXXXX – Operating Revenues

General Ledger account codes 411120 to 491270.  These account codes consist of Student Tuition and Fees, Grants and Contracts, Sales and Services, Interest Income, and other Operating Revenues.

5XXXXX – Non-Operating Revenues

General Ledger account codes 521000 to 579999.  These account codes consist of State Appropriations, Interest Income and Cancellations, Administrative Overhead, and other Non-operating revenues.

6XXXXX – Operating Expenses – Payroll

General Ledger account codes 611000 to 699999.  These account codes used to record all Personnel expenses.

7XXXXX – Operating Expenses – Non-Payroll (Most common for requisitions, travel, PCard, etc.)

General Ledger account codes 711100 to 799950. These account codes are used to record Operating expenses.  This includes expenditures such as Contractual Services, Utilities, Materials and Supplies, Repairs and Maintenance, Travel, and Capital Asset purchases.

8XXXXX – Non-Operating Expenses

General Ledger account codes 811100 to 899999.  These account codes are used to record Non-Operating expenses.  This includes expenditures such as Administrative Overhead, Transfers, and Payments to Long-term debt.

Valid Account/Fund Combination

The Account Use by Fund provides a list of all Account Code values, including the names of each account, showing valid Account/Fund combinations.  The first tab of the workbook, “General Instruction” provides a quick way for users to search if a specific Account/Fund combination is valid.

Accounts Requiring Cost Account Standards (CAS) Exemption

Federal Sponsored awards require CAS exemptions in order to directly charge certain expenses to sponsored projects that are typically indirect costs.  Cost Analysis provides a list of Account Codes that require CAS Exemptions, as well as details on how to receive a CAS exemption.

Definitions

Fund

An independent fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations.

General Ledger

An account book of final entry.  In an accounting system, the general ledger is the place in the system where financial information resides.

Last Reviewed

07/31/2020: reviewed content

Resources

Fund Groups and Definitions

List of All Account Codes

Required Chartfield by Fund

Toolkits

UF HR Toolkit – Chartfields

Contacts

Cost Analysis: (352) 392-5778

Contracts & Grants Accounting: (352) 392-1235

General Accounting & Financial Reporting: (352) 392-1326; gahelp@ad.ufl.edu

UF Help Desk: (352) 392-HELP

Disbursements: (352) 392-1241

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