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

Item Text and Business Purpose - Be detailed and specific

Many documents are disapproved not because the wrong account code was selected, but because the item text or business purpose did not sufficiently explain the transaction to support the account code choice.  The guiding principle here is, Explain the transaction!

  • Who (students, faculty, staff, names, titles, UNM or not)
  • What (event, activity, purchase, contract)
  • When (date)
  • Where (on campus vs off campus)
  • Why (business purpose)
  • Provide original Banner document numbers and post dates for any transactions you are moving elsewhere.
  • Provide your name and phone number.
  • Your document will NOT be denied if you give more information than is needed.  It can be denied if you do not give enough. 

For example, a DPI has been submitted for an Oriental rug purchase for $2,000.  Account 31T1-Sets and Scenery was selected.  The business purpose reads, “Oriental rug”.

This DPI is probably going to be questioned, and may be denied during that process.  If, however, in the business purpose area had been written, “Oriental rug budgeted for The King and I theatre production given by Dr. Howser’s ABC’s of the Theatre class and used as Scenery in the play” the DPI will probably be approved without any questions or delays.  This also holds true for item text when moving expenses with a journal voucher.  Be specific and detailed.