There are four general types of accounts that will be reflected in your budget reports:
Salaries and Benefits (6XXXX)
These account codes are hierarchical in nature and are grouped into categories that reflect the general activities of the University of the Foundation.
NOTE: Some 5XXXX revenue accounts are considered "contra" accounts which result in a reduction in revenue and thus "act" as an expense. Examples of a contra revenue accounts include 519 scholarship account codes.
Example of Salary Account Hierarchy
|ACCOUNT CLASS||61||FACULTY SALARIES|
|ACCOUNT CATEGORY||610||FACULTY SALARIES|
|ACCOUNT SUB CATEGORY||6100||FACULTY SALARIES|
Example of an Expense Account Hierarchy
|ACCOUNT CLASS||73||SUPPLIES & SERVICES|
|ACCOUNT SUB CATEGORY||7320||SUPPLIES|