An account is a financial entity established to record transactions for a particular purpose or function. It has a single source of funds. A primary individual, known as Account Administrator #1, is responsible for monitoring the account.
Each account has certain characteristics. For example, each account
belongs to a specific department; it is managed by a specific individual;
and its budget may be available only until a certain date. These characteristics
are called attributes. On average, more than forty
attributes of each account are stored in the computer, and they allow accounts
to be grouped together for certain reporting purposes. For instance, all
the accounts belonging to a single department or to a single administrator
can be identified and reported together by their common attributes. All
grants from a certain agency can be pulled together as can all grants from
the agency that expire at the end of a certain month.
Any transaction entering FAS must be made up of the six-digit account number and the four-digit subaccount or account control. For example, 4–43251–5500 or 0–23452–1361 are legitimate codings. Transactions with entry codes 3X, 4X or 6X having less than ten digits or having ten digits which fail to satisfy system edits will be posted to the appropriate suspense account. Invalid entry code 0X,1X, 2X, 5X, and 9X transactions will be rejected.
This testing of account numbers is done through the global
subcode edit table, which is the definitive list of valid account
codings in FAS.
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