Account Types

Based on the terms and conditions of a sponsored award, different account types are created to support pre and post-award needs.

All sponsored accounts must follow the chart of account rules (a valid 33-digit account string) including: Authorized tub, Authorized org, Fund, Activity, Sub-activity, and Authorized root.

Main Account (Type M)

All awards must have a main account. Obligated funds are allocated to the main account based on the notice of award. The main account captures the expense transactions of the award for each budget period. If an award requires separate accounts for each budget period, each period must have a main account. (i.e. year logic). Main accounts are identified as Type M in the Accounts section of an Action Memo.

Part-of Account (Type P)

Within a given budget period, if more than one account is needed to manage an award, the additional accounts are called part-of accounts. Part-of accounts are established to manage discrete tasks due to award restrictions and to discretely capture financial data for reporting purposes. Part-of accounts are identified as Type P in the Accounts section of an Action Memo.

Subagreement Account (Type S)

A subagreement account is a special part-of account. Every subagreement issued by Harvard requires an account to capture the transactions of the agreement. A subagreement account may not appear on its own without the "Main" account being set up. While the subagreement(s) is under negotiation, funds for the subrecipient are held in reserve until the subagreement is fully executed. When the subagreement is fully executed, accounts will be established, and an Action Memo issued. Subagreement accounts are identified as Type S in the Accounts section of an Action Memo.