Accounting Worktags / Chart of Accounts

The terms Worktag represent the accounting codes used to classify revenues, purchases and expenditures in the University's general ledger. Worktags are used by the university to track revenues, spending and budget. You will need to know your associated worktags to make purchases through My New Source, execute a contract, reconcile your university credit card expenses, process payroll, and many more activities.

The following Worktags are required on all expense transactions:

1. Cost Center
• 7-character alphanumeric code starting with “CC” followed by 5 digits that represents the organizational unit within the university with an identifiable cost center manager who is responsible for activities of the unit that the transaction is related to.
2. Fund
• Alphanumeric code starting with “FN” followed by 2 digits. Fund worktags are used to group net assets according to donor restrictions for financial statement reporting and budget management.
3. Spend Category
• 5-character alphanumeric code starting with “SC” followed by 3 digits that is a more granular view of an expense.
• A spend category will map to (on a one-to-one relationship ONLY) an expense Ledger Account.
• Spend categories are required on all OTPS expense transactions (purchase orders, invoices, Expense Reports, JVs, etc.)
4. Program
• 6-character alphanumeric code starting with “PG” followed by 4 digits that is used to allocate the various expenses incurred among the different functional classifications for reporting purposes (financial statements).

In addition to the above worktags, some transactions may use the worktags below:

1. Gift
• Tracks donor contributions and discretionary funds. They represent funds available to spend with donor restrictions or funds that are set aside for other university designated purposes.
• Gifts are alphanumeric codes starting with “GF” followed by 5 digits.
2. Grant
• Tracks funding sources provided by external sponsors (e.g. federal, state, local and private agencies) that support specific activities, and may have reporting requirements or other deliverables.
• In MyDay, grants are alphanumeric code starting with “GR” followed by 5 digits.
3. Project
• Alphanumeric code starting with “PJ” that can track expenses for tasks and/or initiatives defined by a specific start and end date and can extend over fiscal years.
• Common examples include (but are not limited to):
• Capital Projects
• Faculty Research and Development Funds

Other Worktags

Budget Managers and other financial partners may also need to know the below worktag elements:

1. Ledger Account
• Ledger Account codes are 4-digit codes that describe the nature of assets (begin with 1), liabilities (begin with 2), revenues (begin with 4) and expenditures (begin with 5) in the General Ledger.
2. Revenue Category
• 5-character alphanumeric code starting with “RC” followed by 3 digits that is a more granular view of revenues.

See also Find Your Accounting Worktags.