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:
- oC - Cost Share
- oF – Fixed Asset – assign to all fixed assets and accumulated depreciation accounts
- oI-Indirect Cost
- oU - 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
- oPersonnel expenses
- oOperating expenses
- oCapital 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:
- oD – debit for assets, labor, expenses, fund deductions
- oC – 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.