The correct coding of financial transactions is very important as this supports the whole budgetary control process.
We have really improved the quality of our financial information but we can still make it better - and we need your help!
Poor data in = poor data out = poor decision making
If you are in any doubt about the right financial code to use, please ask your finance team for advice and please remember that just because a particular item has always been coded a particular way, it does not mean that the code is always correct!
You probably feel that this is not your problem, but if you complete any forms relating to expenses, purchases or income this does affect you!
How can you help?
- Check all codes that you use on your documents for accuracy
- If you're not sure about any codes being used, please check with your manager or finance team
- Always submit fully coded forms
- Only use a miscellaneous or general office code after checking for a more appropriate code
- Do not assume that codes you have previously used are correct
- Do not leave coding boxes empty on forms for someone else to fill in, find out the correct code!
Structure of codes
Codes are made up of three parts:
- Cost Centre level 1 – this is your department or service code
- Subjective (detail) level 2 – types of purchases, expenses or sale items
- Classification level 3 – further detail on level 2 (only use when necessary)