Creighton University

Accounting Procedures

PROCEDURE TITLE:

Accounting Distribution/Chart of Accounts - Add, Change, Inactivate

PROCEDURE NUMBER:

GAPR 01

RELATED POLICY STATEMENT(S):

None

DATE ISSUED: 

July 1, 1993

DATE REVISED:


OVERVIEW

"Accounting Distribution" is the term used to describe the combination of codes used to classify and record financial transactions in the University's financial system. The accounting distribution consists of the fund, organization, account, program and activity codes. This procedure provides guidance in establishing new fund, organization and activity codes, modifying existing codes, or inactivating distributions that are no longer required. (See Section IV, ACCOUNTING DISTRIBUTION/CHART OF ACCOUNTS, in this manual for a detailed discussion of the structure of the Accounting Distribution and some of the valid codes that are available for departmental use.)

REQUIRED FORM(S)

 

  • New Fund Authorization Form (GCF/UDF Only)
  • New Organization Authorization Form
  • New Activity Code Authorization Form
PROCESSING STEPS

 

Adding a New Fund

 

When a new fund is required, the department should complete a New Fund Authorization Form following the instructions in Section VI, STANDARD FORMS. After reviewing and approving the form, the Controller's Office will proceed to set up the new fund on the financial system. Once the update is completed the department will be notified and the fund budget will be forwarded to the Budget Office.

Adding a New Organization

When a new organization is required, the department should complete a New Organization Authorization Form following the instructions in Section VI, STANDARD FORMS. After reviewing and approving the form, the Controller's Office will proceed to set up the new organization on the financial system. Once the update is completed, the department will be notified and the budget will be forwarded to the Budget Office.

Adding a New Activity Code

 

When a new activity code is requested, the department should complete a New Activity Code Authorization Form following the instructions in Section VI, STANDARD FORMS. After reviewing and approving the form, the Controller's Office will proceed to set up the new activity code on the financial system. Once the update is completed, the department will be notified.

Changing Title of Funds, Organizations and Activity Codes

If a change in the title for a fund, organization or activity code is requested, the department should provide a written memo to the Controller's Office. The memo should discuss the effective date of the change as well as the reasons for the request. Because the department originally requested the current title, a valid reason must be provided for changing the title at this time. After reviewing and approving the request, the Controller's Office will proceed to change the title(s) and notify the department when the update is completed.

Inactivating Funds, Organizations and Activity Codes

If a fund, organization or activity code is no longer required by any department within the entire University, it should be inactivated to prevent further use. This should be accomplished by providing the Controller's Office with a written memo requesting the inactivation of the fund, organization or activity code. The memo should discuss the effective date of the inactivation as well as the reasons for the request. The Controller's Office will review the request and coordinate with all departments currently using the fund, organization or activity code in question to ensure the item is not needed by any department. They will then update the financial system and notify the requesting department when the update has been completed.