Transaction Codes

Transaction codes categorize fund transactions for reporting and fiscal-year closing. Add up to five codes under Settings, General ledger, GL setup, and Transaction codes. Within each fund, set whether a code is optional, required on income statement accounts or every account, preserved during closing, or required to balance. For details about fund records and transaction requirements, see Funds.

Track Activity by Purpose and Funding Source

Use transaction code values in Journal Entries to distribute transactions by grant. For example, use separate projects to track each purpose and a transaction code named Grants to assign a value to each grant. Assign both the project and grant value to transactions to track activity by purpose and funding source.

Manage Transaction Codes

1. Under Transaction codes, enter a description for each code you want to create. Create no more than five codes.

2. To edit a transaction code, select Edit.

3. To remove a transaction code, select Edit. You can remove only the last code.

4. After you enter details for a new or updated code, select Save.