Number Sections

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First Section

The first section represents the Fund number and the number for that type of account. Shepherd’s Staff has six different types of accounts:

» Assets—Type 1

» Liabilities—Type 2

» Equity—Type 3

» Income—Type 5

» Expense—Type 6

» Dedicated—Type 7

So an asset account in fund 01 would start with “011” whereas an expense account in fund 02 would start with “026.”

Second Section

The second section stands for the Major group for that account type. These major groups are unique for each fund account type.

So, the “02” major group under the “011” account may be called “Fixed Assets” whereas the “02” major group under the “026” account could be “Utilities.” They are both major group “02” but they are different and separate since they are under different fund account types.

Third Section

The third section represents the Minor group for that account type and major group. These minor groups act similarly to major groups except they are also unique under each major group.

So, a minor group of “01” under “011-01” could be named “Savings” and a minor group of “01” under “011-02” could be called “Building.” Moreover, that same minor group of “01” could be entirely different under another fund account type.

Fourth Section

The fourth section stands for the sequence number. This number helps differentiate two accounts that have the exact same fund account, major, and minor group. In essence, these sequence numbers are the last check to make each account a unique number.

The Finance module provides two levels of grouping, Major group and Minor group.

 

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