Sub-Account

Overview

The Sub-Account document is used to define an optional part of the accounting string that allows tracking of financial activity within a particular account at a finer level of detail. Instead of associating budget, actuals and encumbrances with an account, you can specify a sub-account within that account to apply these entries. Sub-accounts are often used to help track expenses when several different activities may be funded by the same account.

For example, a large organization may have money in a general account that is used by several different areas of that organization. The organization might segregate the budgets for each of the areas into Sub-accounts such as Marketing, Research, and Recruitment. When expenses are applied to the account they can be applied to the sub-account level, allowing direct comparisons between the budget and the actual income and expenditures of these smaller categories. Because all of the activity is still within a single account, it is still easy to report on the finances of the overall account.

 Sub-accounts take on most of the attributes of the account to which it reports, including Fiscal Officer, account supervisor, fund group, and function code.

Sub-accounts can be identified as cost share in order to track cost share associated with Contracts & Grant accounts. 

Sub-Account Code Tab

The fields in this tab are required. 

If parameter ACCOUNTS_CAN_CROSS_CHARTS_IND = N, the Chart will be read only and will populate based on the account number. 

The Account number is the parent Account and the sub-account will inherit several fields from the account. 

The Sub-Account Type Code will default to EX and can only be changed to CS - Cost share by users with the permission Modify Maintenance Document Field SubAccount a21SubAccount.  EX sub-type also includes income entries and is not associated only with expenses. 

Financial Reporting Code Tab

The Financial Reporting Code tab is optional and can be used to group like sub-accounts together. There is no functionality in the system around this code. It is available only for reporting. If any field in the Financial Reporting Code tab is completed, all fields are required.

CG Cost Sharing Tab

The CG Cost Sharing tab is required if the sub-account type code value has been set to CS and can only be completed by users with the permission "Modify Maintenance Document Section SubAccount indirectCostRecoveryAccounts."

The chart, account and sub-account identified in this tab are used to transfer cost share. 

If parameter ACCOUNTS_CAN_CROSS_CHARTS_IND = N, the Chart will be read only and will populate based on the account number. 

CG ICR Tab

This tab is optional when the sub-account sub-type is EX and can be completed to apply a different ICR rate to expenses that use this sub-account. If not completed, the parent ICR rates will be applied when this sub-account is used. 

Users with permission Modify Maintenance Document Field SubAccount a21SubAccount can edit this tab. If the user has permission to edit this tab and the account for which the sub-account is being created has these fields populated, the fields in this tab will be completed with the values from the account. The user can remove them if desired. 

The Off Campus Indicator has no functionality in the system and is used for only for reporting. 

Indirect Cost Recovery Accounts Tab

The fields on this tab specify the account that will receive indirect cost recovery income and can only be completed if the parent account is identified as a  Contracts & Grants account by its Fund Group or Sub-Fund Group via parameters CG_FUND_IND and CG_VALUE.

Users with permission Modify Maintenance Document Field SubAccount a21SubAccount can edit this tab. If the user has permission to edit this tab and the account for which the sub-account is being created has these fields populated, the fields in this tab will be completed with the values from the account unless the CG ICR tab is cleared.

• If the account is looked up and returned to the document, both the CG ICR tab and the Indirect Cost Recovery Accounts tab will be populated with values from the account.
• If the account is entered without looking it up, the CG ICR tab will be populated. On save or submit this tab will be populated with values from the account, unless the CG ICR tab is cleared. 

Multiple accounts can be added in order to split ICR income among various accounts. 

If parameter ACCOUNTS_CAN_CROSS_CHARTS_IND = N, the Chart will be read only and will populate based on the account number. 

The total Account Line Percent for account must total 100.

Routing

The Sub-Account document routes to the Fiscal Officer associated with the Parent account on the document.