changes after initial setup unless there is a new reporting requirement that cannot be otherwise classified with account attributes.

FTMACCT Account Code Maintenance

  • Chart of Accounts: 1
  • Active Status: checked (default)
  • Account: create 6-digit numeric code according to ACCT structure definition
  • Title: name descriptively as it will appear on financial statements
  • Effective Date: today
  • Termination Date: <blank>
  • Next Change Date: <blank>
  • Predecessor Account: specify roll up level account, if any
  • Data Entry: Yes, unless the account created is a non-data-enterable roll up level account
  • Account Type: select from list as appropriate; account numbering should reflect the numbering conventions of the account type used
  • Income Type: Used for 1099-reportable income types (university expenses) only
  • Account Class:
  • C - Cost Share
  • F – Fixed Asset – assign to all fixed assets and accumulated depreciation accounts
  • I-Indirect Cost
  • U - Unitization
  • Asset Account: only assigned for account type 77 – Capital outlay
  • Accumulated Depreciation Account: only assigned for account type 16 – Capital assets
  • Depreciation Expense Account: only assigned for 16 – Capital assets
  • Pool Account: assigned for budget approvals at highest level
  • Personnel expenses
  • Operating expenses
  • Capital outlay
  • Fringe Account: only assigned for account type 61 – Salaries and wages
  • Fringe Percent: only assigned for account type 61 – Salaries and wages
  • Normal Balance:
  • D – debit for assets, labor, expenses, fund deductions
  • C – credit for liabilities, fund balance, revenues, fund additions
  • Update new code as needed in:
  • Predecessor Account to remap existing Account Codes to the new Account Code, if applicable.