Overview
The first digit of an Account value indicates what type of Account value it is. Knowing these prefixes can help you determine which Account value to use in a transaction or to interpret financial report data. The list below shows the different types of Account values.
Account Values Beginning With:
- 1 = Asset
- 2 = Liability
- 3 = Equity
- 4 = Revenue
- 5 = Salary/Benefits Expense
- 6 = Other Expenses
- 7 = No Activity
- 8 = Budget Revenue
- 9 = Budget Expense
Business Process
You may not use each type of Account value in your job. The table below provides a general idea of how the Account values are used.
| Account Value Prefix | Usages |
|---|---|
| 1-3 | Used for University business, primarily by Central Offices such as Financial Operations and Accounts Payable. |
| 4-6 | Used to interpret financial reports, such as the Statements of Activity and the supporting detail reports. |
| 6 | Used for all Procurement activity (e.g., Purchase Orders, P-Card reconciliation, Non-PO vouchers, etc.). |
| 8-9 | Used for budgeting purposes and budget reports (e.g., PBSR). |
Other Helpful Information
The Valid Account report available in FinPROD lists the active Account values. (NavBar > Navigator > Reporting Tools > GL Reports > Valid Accounts) It also contains a Long Description field which provides usage information (e.g., restrictions) for each value. This description also appears on the Account page in M-Pathways.
Related Links
The Financial Operations website contains an exported version of the Valid Account List with additional information about whether the Account value is acceptable to use with the Fund value in a transaction. This spreadsheet can be found on the Financial Operations website.