STATE ACCOUNTING - 7231

The state has developed uniform charts of accounts to classify transactions in a uniform and consistent manner. Agencies/departments must use the accounts listed in the uniform charts of accounts to classify and record their transactions. Lower level accounts may be established and linked to parent accounts for detailed tracking.

Transactions should be supported by documents such as purchase orders, invoices, billing statements, receiving reports, bank statements, payroll data, and other documents that support and substantiate the transaction. The source documents provide evidence of the financial transactions that have occurred. Agencies/departments must analyze the source documents to determine the journal entries to record each transaction in the appropriate accounts.

Agencies/departments will use journal entries to record transactions in specified accounts, which will ultimately be posted to the general ledger based on the statewide structure defined in the Uniform Codes Manual.