Account basics: An account code (or account number) is a six-digit number used when entering a transaction into IFIS. On the operating ledger, the account code indicates the type of revenue, expenditure, or transfer that is being recorded. On the general ledger, the account code indicates which balance sheet (asset or liability) is being affected by the transaction.
Operating accounts, also called operating ledger accounts, include revenue accounts, expenditure accounts, and transfer accounts.
- Revenue account codes begin with "5." Revenue accounts are used for transactions that record revenue or income that the University has received from an outside source such as the state of California, the federal government, student fees, and various self-supporting activities. Each revenue source is represented by a specific revenue account code. Revenue accounts are generally used only by the central administrative offices, such as Business and Financial Services (BFS), or the individual self-supporting activities that have sales outside the University.
- Expenditure account codes begin with "6." Expenditure accounts are used for transactions that record expenditures by the University. Expenditure accounts are further broken down into sub-accounts.
- Transfer account codes begin with either "7" or "8." Transfer accounts classify additions to, deductions from, or transfers between funds and indirect cost transactions.
Balance sheet accounts are used on the general ledger and represent the assets and liabilities of the University. As with revenue accounts, the balance sheet accounts are mainly used by central administrative offices and self-supporting activities.
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