The code consists of four characters: the first identifies what sort of account the transactions should be attributed to and the next three refine this more precisely.
The table below is a summary of the Transaction codes used by the University. The first column gives the initial letter of the code, the second column gives the group it belongs to, and the third column gives the description associated with the initial letter.
| First letter | Grouping | Meaning |
|---|---|---|
| A to D | Expenditure | Salaries and wages |
| E and F | Expenditure | Non-pay costs including depreciation (FB**) |
| H and J | Income | Office for Students (and NCTL) grants |
| K | Income | Fee Income |
| L | Income | Other operating income |
| L | Income | Investment income |
| P | Assets | Tangible fixed assets |
| R | Assets | Investment property |
| S | Assets | Investments and bank accounts |
| T | Assets | Stock |
| U | Assets | Debtors |
| V | Liabilities | Creditors |
| W | Liabilities | Deferred capital grants |
| X | Funds | Fund balances brought forward at the beginning of the year |
| XH | Funds | Gains or losses from investment revaluation |
It is important to use appropriate Transaction codes for all transactions to enable accurate statutory and management reporting.
Latest version 01 May 2024