The chart of accounts (COA) is a series and combination of codes that translates the University’s business activities into structured financial data. These data are then used for business analysis, financial decision making, internal and external reporting.
These financial data seek to meet the following objectives:
Prepare audited financial statements that follow Generally Accepted Accounting Principle (GAAP) which is fair and complete.
Comply with regulations and restrictions set by governmental authorities, grant agencies and donors.
Provide comparable data over time for better budget management, business decision making and external reporting.
The Chart of Accounts can be broken down into the following elements.
Funds (6 digit) : Funding Source
Budgeted Funds: Funds that ends with a XXX002 are budget fund. The amount of funds that are allocated is renewed based on budget at the beginning of each year.
Non-Budget (Designated) Funds: These funds are funded through various sources and set aside for specific purposes. These funds are usually restricted and can only use for transactions that qualify.
Orgs (4 digit): Cost centers
Accounts (5 digit): What
Revenue (5xxxx)
Labor Expense (6xxxx)
ID Charge (801xx)
Transfers (806xx)
*Accounts 5-7xxxx are used for transactions between the university and non-SPU party.
*Accounts 8xxxx can only be use for transactions within SPU and should not be used with accounts 5-7xxxx unless it is a budget change request (BCR)
Activity Code(6 digit): What project is this for
Chart of Account Lookup
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