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

Clarifying Those Codes

If you have looked at the UNM Chart of Accounts lately, you noticed that there are a lot of expense account codes.  During fiscal year 2015, 310 codes, not including sub award or payroll codes, were used to categorize items purchased by UNM.  You are expected to select the most appropriate code for each expense you oversee.  This is not always easy.  There are many supply codes.  In the Travel area, there are 23 codes, of which ONE is best for any given transaction.

In an effort to make your work easier, we are going to explain some guiding principles for selecting the most appropriate expenditure account code.  These principles will help you select a code that will usually result in approval by Financial Services.

We are also going to review and practice using these principles, particularly in regard to some of the most commonly misused codes.  If you learn to correctly use these guiding principles you will significantly reduce the number of denied documents you experience.