Internal purchases on MMP -New account codes to be used

News

Published: 30Oct2020

This message is sent on behalf of Lara Pereira, Controller, Financial Services

Good afternoon,

Effective Fiscal 2021 certain of our reporting requirements now oblige the University to disclose internal purchases separately. Consequently, new accounts were created that follow the same logic and naming convention (e.g. 78xxxxx) as the Internal Sales accounts (.g. 77*****). Beginning November 1, 2020, we ask that all internal purchases use these accounts.

An example is provided below:

For your ease of reference, a guide is attached listing the Internal purchase account codes to be used and their corresponding Internal Sales account codes. The guide is also available on the Financial Services Website – Guide to Financial Management Chart of Accounts - Account Codes.

If you have any questions, please contact ani.kotchounian [at] mcgill.ca

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