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Accounting Terminology

Account - A four digit code used for each transaction which categorizes, defines, and identifies the nature of the expense, revenue, encumbrance, or budget entry. Previously referred to as Object Class Code.

Allocation - The accounting entry of budget authority to a particular account and expenditure category.

Allocation Adjustment -
Budget authority adjustments which occur during the fiscal year (as compared to initial/original allocation).

DeptID - A six character code which identifies the unit, division, department, and sub-department for budget and financial activity. For example, UW-Eau Claire is unit C and UWEC University Accounting is C024010. Previously referred to as UDDS.

Encumbrance - An administrative reservation of funds. The accounting record of an obligation to pay for goods or services ordered.

Encumbrance Liquidation - The reduction of an encumbered amount caused by payment of an invoice. Encumbrance amounts may also be changed/cancelled if a purchase order is changed/cancelled.

Expenditure - The payment for goods or services.

Fund - A three digit code which identifies the source of funding. Previously referred to as Appropriation.

GPR - General Purpose Revenue - Funding authority derived from the State's General Fund.

GPO - General Program Operations - The pool of four fund sources including GPR, Tuition/Fees, Federal Indirect Cost Reimbursement, and General Operating Receipts.

Program - A one digit code which defines the purpose of the account/funding. Formerly referred to as the Insitutional Business Activity Code or IBAC.

Program Revenue - Funds generated locally as a result of institutional programming activity, e.g. participant fees and user charges.

Revenue - Dollars collected and deposited.

SFS Funding String - The funding string that is used in PeopleSoft Shared Financial System.  It is comprised of the Fund-Program-DeptID

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