University Accounting and Financial Reporting (UAFR) has created new account code in addition to updating several existing account codes to ensure compliance with reporting requirements. These additions and updates have been integrated into both Banner and the Account Code Search application.
As described on the Banner Account Code resource page, the account code designates a particular transaction as an expense, revenue, asset, or liability and is a very important part of the C-FOAPAL string. Proper account code usage is crucial for accurate financial reporting and for compliance with state reporting requirements.
New Account Codes
307850 - Testing & Analysis Services Revenue This revenue account code is used to record income generated from testing & analysis services performed for external customers or other University units.
307851 - Testing & Analysis Services Revenue - Internal University Customers - This revenue account code is used to record income generated from testing & analysis services performed for other University units.
307852 - Testing & Analysis Services Revenue - External Customers -This revenue account code is used to record income generated from testing & analysis services performed for external customers.
307853 - Medical Laboratory Testing & Analysis Services Revenue - This revenue account code is used to record income generated from clinical and/or medical laboratory testing & analysis services, where testing and analysis of patient samples (such as saliva, blood, or urine) are performed to aid in the diagnosis and treatment of a patient (either human or animal).
Updates to Existing Banner Account Codes
153501 - Clinical/Medical Laboratory Testing & Analysis Services - Payment to Vendor - This expense account code is used to record direct vendor payments to external vendors or other University units for clinical and/or medical laboratory testing & analysis services, where tests and analysis of patient samples (such as blood or urine) are performed to aid in the diagnosis and treatment of a patient.
307800 - Consulting Services Revenue This revenue account code is used to record income generated from consulting services performed for external customers or other University units.
307806 - Consulting Services Revenue - Internal University Customers - This revenue account code is used to record income generated from consulting services performed for other University units.
307807 - Consulting Services Revenue - External Customers - This revenue account code is used to record income generated from consulting services performed for external customers.
307808 - Consulting Services Revenue Not Elsewhere Classified - This revenue account code is used to record income generated from other consulting services performed for external customers or other University units which cannot be better classified under a more specific consulting services revenue account code.
Contact
If you have any questions, please refer to the Account Codes section of UAFR’s Who to Ask list.
