BI-TECH GENERAL LEDGER CHART OF ACCOUNTS

The BiTech accounting system general ledger consists of two sets of account numbers in the following format:

XXXXX - XXXXX

(A five digit COST CENTER) - (A five digit OBJECT CODE)

Every transaction (both expense and revenue) is coded with both a cost center and an object code. For any expense transaction, the cost center indicates where (which department, office or program) the item is being charged, while the object code indicates what is being purchased or paid for.

 The accounting system will not accept requisitions or other transactions without both a cost center and an object code being entered. Similarly, Accounts Payable will not accept any voucher requested for payment unless the user indicates both the cost center and object code to be charged on the appropriate paperwork.

 1. COST CENTER:

Examples of cost centers include: a College department’s operating budget (e.g.: Toy Design,

Admissions); a functional expense area within a College department or division (e.g.: Graphics Lab Operations, Pre-College Programs, Handicapped Student Services); an officer’s operating budget (e.g.: Dean-Art and Design, VP-Student Affairs); grants and restricted accounts (each grant or restricted gift will be its own cost center); capital projects (each major capital project will be set –up as a cost center); and, student clubs (each club will be its own cost center).

 For each cost center account number, the first two digits identify the corporation and fund to which the cost center belongs:

11 – College Unrestricted
12 – College Restricted (including grants)
21 – Staff Housing operating
31 – Student Housing operating
41 – FITSA clubs and student organizations
43 – FITSA health services
51 – Student Faculty Corporation
61 – Educational Foundation Unrestricted
62 – Educational Foundation Restricted
65 – Educational Foundation Endowment

For the College’s unrestricted departments, Toy Design in will be 11175. In addition, through the BiTech system departments also have on-line access to their restricted accounts. For example: the Toy Design restricted account is 12521 in BiTech. Each department will have access only to the cost center(s) under its control.

If a user is uncertain to what unrestricted cost center an item should be charged, he/she should contact the Budget Office to determine where the budget for the item has been set-up. For auxiliary corporations and restricted cost centers (including to request a new restricted cost center for a new grant or gift), the user should contact the Accounting Office.

(The BiTech system sometimes uses the term “organization key” or “org key” to mean the same thing as “cost center.”)

 2. OBJECT CODE:

Object codes have been defined for revenues and expenses – although typically only users responsible for restricted/grants and student club cost centers will use revenue codes.

Expense budgets for unrestricted cost centers will be set-up at the object code group level (Supplies; Communications; etc.), rather than at the object code line level (Instructional Supplies, Office Supplies; Memberships, Advertising). For each group, the budget will be loaded into the object code ending with “999”; no expenses should be charged to the budget object codes. For example, the Supplies group includes the following object codes:

70003 Instructional Supplies
70006 Office Supplies
70009 Software
70012 Orientation/Advisement Materials
70015 Exhibition Supplies
70018 Other Supplies
70023 Fabric/Materials
70026 Fashion Show Supplies
70999 Supplies Budget

BiTech will only allow a user to enter a requisition if there is sufficient budget in the object code’s group.

When processing requisitions or vouchers, the user must select the object code that most closely describes the item being purchased or paid for. Do not use codes such as Consulting or Office Supplies as catch-alls. Also, do not simply pick an object code that happens to have available budget.  If there is not sufficient budget in the correct object code group to process a requisition, the user must process a budget transfer to move the budget funds to the correct object code group.

For a complete list of revenue or expense object codes click on the link below:

• Revenue

• Expense