Academic departments use several account types and purchase methods to procure goods/services throughout the fiscal year (July 1-June 30). This guide introduces budget basics related to the following four categories:
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I. General Ledger Numbers
There are three parts to a GL number:
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The first set of numbers is called the fund number. This set indicates the account type. In the College of Arts & Sciences there are six commonly used funds:
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The middle number is called the department number. This number indicates the department.
The last set of numbers is called the object code. This indicates the object type (goods/services category) that may be purchased under that object code. The appropriate object code may be used as long as there is money in the pool.
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