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Chart of Accounts



The Financial Accounting module of FRS is comprised of two major types of account structures. The first type is the General Ledger, which represents the balance sheet for general ledger fund groups. If a fund group has any revenue or expense activity related to it, then those details are kept in the second type called the Subsidiary Ledger. The subsidiary ledger account contains current year revenue, expenses, budget, and encumbered data that indirectly updates the balances in the associated general ledger account.

The basic format for General and Subsidiary Ledger accounts is L - F I I I I - V V V V. The first six digits (L-FIIII) define a ledger and program account. L refers to the type of ledger (0 for GL accounts and 1-9 for SL accounts). F identifies the fund group. IIII is user defined and VVVV defines a detail line item within an account.


General Ledger Accounts


In accordance with generally accepted accounting principles recommended for institutions of higher education, the Financial Accounting module classifies funds by similar characteristics. These funds are placed into general ledger fund groups. For each fund a separate General Ledger account is maintained to account for specific kinds of resources and their uses.

Each general ledger account is a self-balancing entity with assets, liabilities and fund balance. In essence, it represents a balance sheet for a particular fund group. The values of the assets, liabilities and fund balance are affected by the expense and revenue activity that occur in the subsidiary ledger(s) mapping to that particular general ledger account.

The account structure of a general ledger (GL) account in the University's accounting system is coded in the following manner:


0 - F I I I I

The first position of the above coding scheme represents the ledger to which the account belongs. All GL accounts will always begin with zero.

The second position, designated by the F, represents the fund group the GL pertains to. At UConn this may be a number from 1 through 9. The fund group descriptions used at UConn are displayed in the following table.


Fund Group Descriptions:


1 = Current unrestricted General fund, Tuition fund and Auxiliary services.

2 = Federally restricted funds

3 = Other restricted funds such as gifts from private individuals

4 = Loans

5 = Endowments

6 = Unassigned at this time

7 = Capital Equipment funds

8 = Unassigned at this time

9 = Agency funds

The six digit account structure described above is called the fund identifier. It always represents a complete balance sheet, which may include assets, liabilities, fund balances, fund additions, fund deductions, and summary controls for revenue, expense, budget, and encumbrances.

The 6-digit GL account structure can also be written as a 10-digit structure as in the following example:


0 - F I I I I - V V V V

The last four places are called the Account Controls and their purpose is to identify the assets, liabilities, fund balances and other related subgroups as well as non-dollar data that describes an account. These four digits describe a detail line item within an account. For instance, if VVVV has a value of 1100 it represents a claim on cash. Values in the range of 1101-1999 will signify assets and those in the range of 2000-2999 belong to liabilities.


Subsidiary Ledger Accounts


GL accounts have a specific relationship with Subsidiary Ledger (SL) accounts. If a fund (GL account) has any revenue or expense related to it, then those details are recorded in the Subsidiary Ledger account and only appear in the GL as a Summary Control. The Subsidiary Ledger account represents the Income Statement for the fund. It records the current year transactions excluding fund transfers.

The Subsidiary Ledger accounts have a similar structure as the GL accounts with one exception; the first digit of the SL account is never 0. The 0 is reserved only for GL accounts. The first digit for SL's may be a number from 1 through 9 and represents the ledger that the SL account identifies. For instance, 1-I I I I I VVVV, indicates that an SL account beginning with '1' belongs to current unrestricted funds. The SL ledger codes used at UConn are listed below:

SL Ledger

Account Type

1 - I I I I I

Current Unrestricted Funds - Revenues; receives tuition & fees

2 - I I I I I

Current Unrestricted Funds - Expenses; tuition accounts mapping to 0-11161

3 - I I I I I

Unrestricted Auxiliary Enterprises

4 - I I I I I

Revolving Service Accounts; unrestricted non-auxiliary accounts.

5 - 2 I I I I 5 - 6 I I I I

Restricted Federal - Grants & Contracts

6 - 3 I I I I

Restricted - Other (State, private, etc.)

7 - I I I I I

Unexpended Plant, renewals, replacements, debt retirement, plant investment.

9 - I I I I I

Agency Funds

The 2nd through 6th positions, I I I I I, are user defined.

The final four positions, VVVV, are the subcodes or object codes and defines the specific types of income or expense. Once the 6-digit portion of an SL account is created, the object code part (VVVV) is usually created as a result of posting dollar transactions to the 6-digit account. Revenue producing subcodes used by SL accounts begin with 0 followed by 3 integers (0XXX). Expense subcodes will have a first digit from 1 thru 9 followed by 3 integers (1XXX, 2XXX, 3XXX, ...9XXX).


GL & SL RELATIONSHIP


The GL accounts represent the fund groups. Revenue and expense activities to these fund groups are recorded by the SL accounts that "map" to that particular GL account. There may be many SL account that map to one GL. If the GL account only has one SL that maps to it, then this is called a 1 to 1 mapping. If the GL account has several SL accounts mapping to it, then the mapping is called a 1 to many. The SL account will map only to one GL.

Not every GL will have SL accounts mapping to it. Some GL accounts have no sub-ledger activity related to it. In this situation there will be no SL account and, therefore, the GL account will contain all the details. Types of GL accounts that do not have associated SL's are Loans (040000-0499999), Endowments (050000-059999), Plant Investment (076000-077999) and Agency Accounts (090000-099998).

The GL/SL relationship used at UConn is summarized in the UConn Chart of Accounts Table. Click HERE to view the table. Only the first six digits of the accounts are shown in the table. The last four digits represent the subcode or object code, which will be discussed later. Just remember that the GL account may relate to none, one, or many SL accounts. The SL account must relate to only one GL account. In summary, every Subsidiary Ledger account must map to a General Ledger account, but each General Ledger account does not require a Subsidiary Ledger account association.


ACCOUNT CONTROLS & SUBCODES


As mentioned in the previous paragraphs, the basic format for the General and Subsidiary accounts is


L - F I I I I - V V V V

The last four positions, V V V V, represents Account Controls for the General Ledger accounts and Sub-codes (object codes) for the Subsidiary Ledger accounts. The next sections describe the functions of these two categories. A complete listing of these Account controls may be obtained by clicking HERE and sub-codes may be obtained by clicking HERE


General Ledger Account Controls


Account Controls apply only to the General Ledger (GL) accounts. They identify the assets, liabilities, fund balances and other related subgroups as well as non-dollar data that describes an account. The table below displays the account control ranges and their descriptions used at UConn

 

Account Control (V V V V) General Description of Account Control
1100 Claim on Cash
1101 - 1899 Assets
1930 Due from Controls
2000 - 2899 Liabilities
3100 - 3900 Fund Balance
4000 - 4799 Fund Additions
5000 - 5799 Fund Deductions
91L0 (L=SL number 1-9) Current unrestricted or current restricted budget.
9110, 9120, 9130, 9140,  
9150, 9160  
92L0 Future unrestricted or future restricted budget.
9210, 9220, 9230, 9240,  
9250, 9260  
93L0 Revenue Summary
9310, 9330, 9340, 9390  
95L0 Expense Summary
9520, 9530, 9540, 9550,  
9560, 9570, 9590  
96L0 Encumbrance Summary
9620, 9630, 9640, 9650,  
9660, 9670, 9690  

Subsidiary Ledger Subcodes


Sub-codes apply only to the Subsidiary Ledger accounts. The subcode categorizes line item transaction data within an account. It is used to classify revenues, expenditures and budgets by object type, hence it also is known as an object code. The classifications for revenue begin with 0. The expense classifications will start with a number in the range of 1 - 9. This range also includes the budget pools of 1000, 2000, 3000, 4000, 5000, 8000 and 9000, which use the Automatic Budget Reallocation (ABR) rules for budget reallocation. The table below gives a summary of the object codes as they relate to revenue and expense items.

SubCodes (V V V V)

General Description of SubCode

0100 - 0950

Revenue Classifications

1000 - 9400

Expense Classifications

   
Detail Groupings
Descriptions
0VVV
Revenue
IVVV
Salary & Wages
2VVV
Contractual
3VVV
Commodities
5320-5326
Fringe Benefits
5VVV
Sundry
6VVV
Debt Service
8VVV
Building & Improvements
9400
Indirect Costs
9VVV
Equipment
      
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The University of Connecticut
Office of the Controller - Financial Systems
343 Mansfield Road Unit 2112
Storrs, CT 06269-2112
michael.virone@uconn.edu
Last updated: 11/21/11