E-17-8 General Ledger (GL) Accounts

I. Purpose

To provide guidance in assigning appropriate General Ledger (GL) accounts on financial documents in order to maintain consistency and accuracy for financial reporting; to define the various types of GL accounts; and to provide links to the most current list of available GL accounts. Assigning appropriate GL accounts is an integral part of maintaining reporting accuracy. This section will supplement the other sections of the Business Procedures Manual pertaining to the Chart of Accounts.

II. Definitions 

• Balance Sheet GL Accounts:  A Balance Sheet is a financial statement that reports the total assets, deferred outflows of resources, liabilities, deferred inflows of resources and net position (fund balance) at a specific time. All funds within the balance sheet must be reconciled.  In any given fund, assets plus deferred outflows of resources less liabilities and deferred inflows of resources is equal to net position. Balance sheet GL accounts are 6-digit codes with assets and deferred outflows of resources beginning with 1, liabilities and deferred inflows of resources beginning with 2 and net position beginning with 3. Go to the following link for a complete listing and definitions:  Balance Sheet GL Accounts
• Revenue GL Accounts:  Revenue includes all amounts of money that the University receives from external sources during its fiscal year, net of refunds and other correcting transactions, other than issuance of debt, sale of investments, and agency or private trust transactions. Revenue GL accounts are 6-digit codes beginning with 4. Go to the following link for a complete listing and definitions:  Revenue GL Accounts
• Expense GL Accounts:  An expense is any cost of doing business resulting from revenue-generating activities. Expense GL accounts are 6-digit codes beginning with 5.  Go to the following link for a complete listing and definitions: Expense GL Accounts
• Recharge GL Accounts:  Recharge accounts are departmental operations that provide goods or services to University departments and are approved service centers or recharge operations. Recharge GL accounts are 6-digit codes beginning with 6.  Go to the following link for a complete listing and definitions: Recharge GL Accounts
• Transfer GL Accounts:  A transfer is a movement of funds from one cost object to another.  Transfer GL accounts are 6-digit codes beginning with 7. Go to the following link for a complete listing and definitions: Transfer GL Accounts