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Last two characters represent Section code.
#General ledger code#
Middle three characters represent School/Centre code and The first two characters represent the Faculty/Institute code The Operational Unit comprises three components, as follows:
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The Operational Unit structure is based on the University’s organisational structure. The UniFi ChartFields for UQ are as follows:Įach of the ChartFields is explained in detail in the following sections. The current Chart of Accounts is located on the FBS Website at Chart of Accounts - Current - UniFi Project at The University of Queensland and is accessible to University staff. Internal reporting to managers, for use in making non-routine decisions in formulating major plans and policies (strategic budget management, business plans, allocating/redistribution of budget funding etc.).Įxternal reporting to stakeholders, government, and other outside parties (Annual Report, Business Plans, formal reporting to Department of Education etc.). Internal reporting to managers, for use in planning and controlling routine operations (monitoring and analysis of financial reports, management and development of budgets). The General Ledger and Chart of Accounts should provide the ability to input and extract information accurately and efficiently for the following purposes: In order to ensure consistent, timely information is delivered to internal and external information users, it is essential that all finance staff understand how the Chart is to be used. The Chart of Accounts provides the fundamental structure that underpins management and financial reporting within the University. The Chart applies to all organisational units. The Chart of Accounts and General Ledger procedures apply to all University staff involved in financial transactions and management reporting. Suspense account - the general ledger account which records transactions of a temporary nature pending a determination as to how they shall finally be recorded. General Ledger - Central repository of the accounting information of an organisation in which the summaries of all financial transactions (derived from subsidiary ledgers) during an accounting period are recorded. Each account in the chart is classified into one of five categories – Assets, Liabilities, Equity, Income and Expenses.ĬhartField - UniFi accounting segments in a multi-dimensional Chart of Accounts.įAIFM - Faculty and Institute Finance Manager Each account in the chart is assigned a unique identifier, typically an account number. The purpose of these procedures is to outline the management of the Chart of Accounts and General Ledger by University staff involved in financial transactions and management reporting.Ĭhart of Accounts - a list of all accounts in the General Ledger tracked by a single accounting system which is designed to capture financial information to make good financial decisions.