What are the currently proposed Account Codes?
Account codes are similar to UFAS object codes and account controls in that they are used to classify and record accounting events, assets, liabilities, and fund balances. For the most part, the Account codes will be consistent across all four charts – University Administration, Chicago, Springfield, and Urbana. The Account codes must be established in Banner before users can use them in a transaction. Users cannot establish ad-hoc “user level” Account codes as they currently can in UFAS. Similar to the UFAS object code structure of major, minor, detail and user level, there are four levels of hierarchy available in the Account segment. Account code hierarchies at the first and second levels can be either non-data entry or budget only for the purpose of pooling budgets. The third and fourth levels of the hierarchy are defined as data entry levels. Departments will have the option of classifying revenues or expenditures at either the third or fourth level in Banner similar to their use
