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Transaction Codes 2013/14 Edition

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Transaction Codes A transaction code is a string of numbers grouped into five segments which identifies where money is coming from or going to. You will be asked to assign a transaction code to every item of income and expenditure your Club, Society or Project makes. It is important that you are as accurate as possible when doing this as mistakes can cause unnecessary delays in processing of receipts and payments for your Club, Society or Project. Below is as example of a transaction code and a complete list of all transaction code segments is given in on the next page.

825 – 645 – 58 – 1 – 0 Account – CSP Code – Activity – Funding – Consolidation Account

This describes the purpose of the transaction – for example publicity or travel expenditure.

Club, Society or Project

This is the unique code of your Club, Society or Project – for example 645 is the code for the RSM Exec.

Activity

Most of the activity or your Club, Society of Project will be classed as General (00), however if you are running a Tour or a large event, using an activity will help separate these transactions from your core activities.

Funding

The funding code represents the source of the money you are receiving/spending for example Union Grant or Self Generated Income.

Consolidation

The consolidation code says who you are dealing with – most of the time it will be 0 but for transactions involving the College or internal transactions it will be 1

© 2013 Imperial College Union Version 1.1 - 12 June 2013

Transaction Codes Page 2 imperialcollegeunion.org/training


Transaction Codes cont... This is comprehensive list of the codes that you may use on various items of documentation such as Banking Records, Claim, Purchase Orders, etc. Income Codes Code Name 430 Donations 520 Sales general 550 Sponsorship 580 Ticket Income 590 Travel 450 Goods and Services VAT Codes – Income Code Name S1 Standard rated S0 Zero rated SE Exempt SN Outside Scope VAT Codes – Expenditure Code Name P1 Standard rated P0 Zero rated PE Exempt PN Outside Scope

Expenditure Codes Code Name 600 Acts 605 Affiliation Fees 640 Consumables 650 Cultural Activities 655 Decorations 680 Entrance Fee Competition 675 Entrance Fee Conference 685 Equip purchase (not cap) 690 Equipment Hire 705 Goods for Resale 710 Ground Hire 725 Copyright & Royalties 730 Hospitality 735 Instructors 820 Printing Costs 825 Publicity 860 Stationery 870 Subscriptions 895 Travel Expenditure

Event Codes Code Name 00 General 21 Winter Tour 22 Spring Tour 23 Summer Tour 51-69 Event

Description Day-to-day transactions. A tour during the Christmas holidays or Spring Term A tour during the Easter Holidays or Summer Term A tour during the Summer Holidays or Autumn Term For example, Freshers Ball, Annual Dinner

Funding Codes Code Name 0 Grant 1 Self Generated 2 Harlington 3 IC Trust 4 College Grant

Description Union money allocated by your Management Group Your own money generated through your activities Money from the Harlington Grants Committee Money from the IC Trust Money from a Faculty or Department for a specific purpose

Consolidation Codes Code Name 0 External 1 College

Description Outside College and the Union Outside the Union, within College Transaction Codes Page 3 imperialcollegeunion.org/training


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Tel: 020 7594 8060 Fax: 020 7594 8065 Email: union@imperial.ac.uk Twitter: @icunion imperialcollegeunion.org

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