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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

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