Part III - UNM Finance: Practical Applications

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

Basic Account Structure

Note that income accounts begin with a zero.  Regardless of the name, they are not to be used for expenses.

First Digit of Account Code Type of Account

0

Income

1

Income &Transfers

2

Labor expenses

3

Supplies & Travel

4

Student and Research Costs

5

Patient Care Costs

6

Communication Charges and Services (See Services, below)

7

Plant Maintenance (i.e.: repair, maintenance, painting. Frequently a type of service.)

8

Other Expenses, Special Contract & Grant Expenses

9

Capital, Bond, and non-cash expenditures


There are only eight expense subcategories.  Of these, Accounts beginning with 2 are labor accounts, and not used for general expenses.  Accounts beginning with 8 are not used for general expenses, except for some Contract and Grant expenses.

This leaves only six regularly used subcategories.  Getting each expense in the correct subcategory is the most important step in recording your expenses.  Getting the correct account within that subcategory is sometimes a matter of department choice.

Some accounts, however, must be used for specific purchases.  These accounts will be reviewed in this manual.