Business Procedures Manual

Essential business procedural components for University System of Georgia institutions.

Section 2 Introduction

(Last Modified on October 20, 2016)

The University System of Georgia (USG) uses a Standardized Chart of Accounts structure at all institutions. This standardized chart of account structure is designed to allow uniform reporting for the entire system. The standardized chart of accounts was developed to allow classification of revenues and expenditures in accordance with guidelines developed by the National Association of College and University Business Officers (NACUBO).

The standardized chart of accounts is comprised of the following Account Number Segments:

  • Fund Group
  • Function Code
  • Funding Source Code
  • Department
  • Project Indicator
  • Account Code
  • Budget Period

These Account Number Segments are not prescribed to be used in any certain order. The accounting software being utilized by the institution will probably determine the order. .*

*Note: Since the majority of the USG institutions utilize the PeopleSoft Financials software, this manual will also describe the Account Number Segments (chart fields) as they are referenced within PeopleSoft Financials:

  • Fund Group is referenced as “Fund Group”
  • Function Code is referenced as “Program Code”
  • Funding Source Code is referenced as “Classification Code”
  • Department is referenced as “Department”
  • Project Indicator is referenced as “Project ID”
  • Account Code is referenced as “Account”
  • Budget Period is referenced as “Budget Period”

Topics in the section include:

  • Account Coding Scheme
  • Fund Groups
  • Function and Sub-Function (Program) Codes
  • Funding Source (Classification) Codes
  • Departments
  • Project Indicator (Project ID)
  • General Ledger Accounts – Balance Sheet Accounts
  • General Ledger Accounts – Revenue Accounts
  • General Ledger Accounts – Expenditure Accounts
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