Account Structure
(revised November, 2004)

The Wesleyan financial system uses six digit account numbers established for a specific purpose with responsible persons assigned to each account.  These account numbers are used to accumulate revenues and expenses for that purpose.  The revenues and expenses are categorized by type within an account using a four digit object code.  An object code determines the nature of the expense by functional classification, whereas an account number is used to create a relationship of expenses, most often by department.  Click on the following link to view a list of commonly used object codes   

Finance Reporting - Object Codes 

An account is a six digit number established for a specific purpose with one individual responsible.  Each account number belongs to a ledger group, defined by the first digit of the account number.  For example, ledger 2 accounts are unrestricted expenses, ledger 5 are grant related expenses and ledger 6 are restricted gifts and endowments. The chart of accounts structure is organized as follows:

Subsidiary Ledger

General Ledger