The general ledger is the collection of all of the accounting and budget data that makes up the university’s accounting or financial system.
Below are some specific components within the general ledger, understanding these components will assist in understanding the Account Status Report (ASR) and Balance Inquiries.
These are codes listed in the detail sections of the ASR that help you identify the type of transaction.
Used for grouping accounts by revenue or administrative center, and would include all accounts for all fund groups for that center.
Fund groups segregate funds by the source and the use of the funds, as well as by the type of restrictions or “rules” of use placed on the funds by the source.
Ten-Digit Account numbers, the first two numbers in an Account number help to identify the type of account and the fund group.
The object code is the five-digit number used for categorizing both budget and actual transactions.