Glossary of Terms


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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.
Gift Annuity
Gifts made to the University subject to payment of a fixed, periodic income amount to one or more beneficiaries for life. Upon the death of the designated beneficiary, the University will have the use of the remaining assets of the annuity, subject to the terms of the gift annuity agreement.
Grain
Direction of paper fibers in a sheet
Grain direction
Predominate direction of paper fibers in a sheets
Grant
Grants normally fall into two categories:

1. Non-specific grants: those received by the University in support of specific programs or projects, but which did not result from a specific grant proposal. No specific resources or services are committed, and no accounting for the use of the funds is required.

2. Specific grants: those received by the University resulting from approved grant proposals for specific programs and projects. The University commits resources or services as a condition of the grant; the grantor may require an accounting of the use of funds and reporting of results.
Gutter
The blank space or inner margin from printing area to binding