Use of codes
Your department will be allocated at least one two-digit departmental code in the University’s organisation structure. This code will serve as the prefix for any income to or expenditure from related departmental cost centres.
The coding structure of the General Ledger is known as the ‘Chart of Accounts’. The accounts string comprises the following six segments:
- Cost centre (this will be prefixed with the departmental code described above)
- Natural accounts code
- Source of funds
These codes enable departments to record income and expenditure accurately.