Does your unit incur expenses for food and beverages? If so, keep the following in mind to ensure the proper account code is being used on your various purchases, as the correct account code will vary depending on the circumstances:
- Any charges incurred for the purchase of consumable food supplies used for human consumption should be charged to account code 124300, Food Supplies. Examples would include food, snacks, beverages, refreshments, etc. purchased for non-catered university events or business meetings (such as donuts purchased for meeting attendees).
- Any charges incurred for the purchase of catering services from either an external vendor or another university unit should be charged to account code 142520, Catering Services – Payment to Vendor. An example would include payment to a professional caterer in exchange for providing food services at a conference center for an official university event.
- Any charges incurred for the purchase of food or beverages held for resale purposes as a part of a self-supporting operation should be charged to account code 187100, Purchase of Goods for Resale. Examples would include the purchase of food, beverages, etc. purchased for resale purposes at a university cafeteria or at a university event (such as drinks sold at a show held within a performing arts center).
- Any charges for the purchase of food items that are actually being used for university research purposes should be charged to account code 124000, Scientific and Laboratory Supplies. Examples would include the purchase of food items which are being researched as a part of a particular research study; food provided to human research subjects as a part of the particular research study; or food fed to animals, rodents, etc. which are a part of a particular research study.
Contact
For further details, refer to our subject matter experts listed in the Account Codes section of UAFR’s Who to Ask list.
