Accounting Terminology


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G/L Account
A G/L Account defines the type of balance sheet (asset, fund equity, liability), expense, or revenue category of a posted amount in SAP. Each G/L account represents one item in the entire Chart of Accounts. A G/L Account consists of six digits and is equivalent to the four-digit Object Code (old accounting terminology) plus two additional digits for further clarification. Usually the extra two digits are two zeros (for example, G/L Account 646000 is Office Supplies and has the same meaning as Object Code 6460). In general, if the two digits are "01", the amount is for an inventory item from the Materials Management/Services area of the Hospitals.
GAP (General Accounting Procedures)
Located on the Financial Services Website, the GAP provided instruction on topics such as Consultants (Engaging & Paying), Payroll Procedures, Plant & Equipment Procedures, Sponsored Projects Special Procedures, and Other Accounting Procedures.