General Structure of Accounts

Account
Structure

Establishing An Account

Staff

Responsibility
Each department or unit head is responsible for maintaining accurate departmental records that support the activity of each departmental account. Overspending a departmental account is not allowed Department or unit heads should insure overspending does not occur.

Statement of Accounts Report
Account administrators will receive a Statement of Account detailing receipts, expenditures, appointments, orders placed, and free balances on each account for which he/she is responsible. If there is no activity in an account, a monthly statement of account will not be produced.

Statement of Accounts Headings	Explanation
Name or Description	Payee/vendor name if voucher is payment. Description of expenditure/income if other than payment
Dept No	Department transaction number (optional for departmental numbering system)
P.O. No	Purchase Order Number, if applicable
Voucher No	Reference number assigned to transaction upon final approval
Date	Date the transaction was posted to accounting records
Object Class	Object code, a 4-digit code that identifies the type of expenditure/income
Balance Fwd	Amount carried forward from previous year
Trans & Adj.	Transfers or adjustments to the original budget
Original Budget	Original budget assigned at the beginning of the fiscal year
Exp/Inc	Expenditures and/or income posted to the account. Expenditures are shown as negative amounts. Income is shown as a positive amount
Enc/Inv	Encumbrance entries posted to the account. These would be Purchase Orders or Travel Requests
Free Balance	Balance in the account after every transaction has posted