Know Your Codes
This identifies where the expense belongs within the organization
What is Cost Center?
Expenses must meet this requirements to be reimbursed
What is allowable?
This system is used for the general ledger
What is Dynamics?
This document supports grant submissions for review.
What is a report coversheet?
This percentage represents NC sales tax.
What is 7.25%
This code identifies the specific grant or funding source
What is a project code?
Buying personal items with grant funds is this type of expense.
What is unallowable?
This system is used to submit and track expenses.
What is AVID?
This form is used to request reimbursement for out-of-pocket expenses
What is expense reimbursement form?
Sales tax should be coded to this account.
What is 15430 A/R Sales Tax?
This tells finance what type of expense it is (rent, supplies, etc)
What is a general ledger account?
Coding everything to "miscellaneous" creates this risk.
What is missed reimbursement?
This platform manages credit card transactions
What is Center?
This form is used to request payments outside normal processes.
What is a check request?
Failing to separate tax properly results in this issue
What is incorrect financial reporting?
Using the wrong combination of these three creates inaccurate reporting.
What are cost center, project code, and GL account?
What happens if grant funds are used incorrectly.
What is repayment to the grantor?
This system tracks payroll and labor allocations
What is Paycom?
Missing Documentation on these forms leads to this issue.
What is audit finding?
Taxes incorrectly billed to a grant may lead to this?
What is disallowed costs?
This is what happens when coding is incorrect across all three areas.
What is misstated financial data/compliance risk?
This is damaged when compliance issues occur repeatedly.
What is grantor trust?
Using systems incorrectly leads to this downstream issue.
What is inaccurate financial reporting?
These documents must always accompany expenses.
What are receipts?
This is why accuracy in tax coding is critical
What is compliance and reimbursement accuracy?