An explanation of the finance coding structure
There are two main sets of finance codes:
1. Accounts Hierarchy (Account Code / Product Code)
2. QMUL Hierarchy (Sector / Institute / Sub-Institute / Cost Centre / Budget Code
1. Accounts Hierarchy
Account Codes describe the transaction type ie salaries, stationery etc. The structure is 4 numeric digits eg 3150 - stationery.
The code identifiers are –
Starting with 1 – Income
Starting with 2 – Staff costs
Starting with 3 – Consumables
Starting with 4 – Equipment
Starting with 5 – Estates costs
Starting with 6 – Other costs
Starting with 7 – Balance sheet codes (Assets)
Starting with 8 – Balance sheet codes (Liabilities)
Starting with 9 – Balance sheet codes (Balances)
If you require a new account code to be set up please contact Phillipa Scott, Head of Financial Accounting.
Product Codes are used to raise purchase orders and each one belongs to an Account Code. In many cases they are identical to the Account Code.
Account Codes 2024 [DOC 35KB]
These codes are restricted and can only be opened or closed by the Financial Management team. If you require a new code to be set up please contact your Finance Partner
QMUL Hierarchy 2024 [DOC 109KB]