A revised list of subcodes used in financial transactions is now available. This document has been updated by those of us in the Budget and Financial Services offices in order to provide for uniform reporting of financial transactions in the Parnassus system as the Natural Classification method for reporting is implemented.
We have provided a document that contains the following information:
- Natural Classification Category
- Subcode Number
- Subcode Name
- Examples (not all inclusive)
It is most important that we begin to utilize these updated subcodes effective June 1, 2014. The goal is to improve the reporting capabilities and allow for a more consistent classification of financial transactions. It is by Natural Classification that the college will record, summarize and report financial information to both internal and external constituents going forward.
To date, only the EXPENSE (7000’s), SMALL EQUIPMENT (8100’S) and CHARGEBACK (9000’s) subcodes have been updated. Those subcodes that have NOT been revised and/or included in this project will indicate “…currently under review” in the Definition and Examples fields of the document. In some cases, such as the Natural Classification “Entertainment”, the Natural Classification Name is under review and has not yet been finalized. All other fields in the subcode line are valid. You should utilize these subcodes as indicated by the definition and examples. Any change in the name of Natural Classification will have no impact on entries made to the Parnassus financial system. Any Natural Classification names that fall into this category are marked with an asterisk (*).
Be aware that reports currently run in the Financial Statements Generator function of Parnassus and various other reports in Parnassus and Argus will not yet summarize data at the Natural Classification level. Review and revision of those reports will continue and updates will be entered as available.
The process of updating the Revenue and Salary & Compensation subcodes will be ongoing. When these categories of subcodes have been reviewed and updated notification will be sent to the campus community through various sources, including the list serve that is maintained by Jo Anne Rosato.
The Revised List of Subcodes document is available on the right hand side bar of this page. The title of the document isSubcode Definition & Examples.
The list is presented in Natural Classification sort order rather than by numeric subcode order. Please carefully review the document, and note the changes. Please pay particular attention to the definitions and examples related to those subcodes that have been added, repurposed and/or renamed. A full list of these subcodes can also be found on the right hand side bar on this page. The title of the document is Additions, Deletions, & Repurposed Subcode List.
Please contact personnel in either the Budget or Financial Services Offices if there are questions.