My Accounts: All Other Types (Non-Ledger 5)
What Do All of My Accounts Mean?
Every month you receive updates with the balances and payees for your accounts, but do you understand what each of these accounts mean and how they can be used?
Groups of accounts are referred to as “ledgers” and are designated by the first of a six-digit account number (e.g., Ledger 2 accounts start with a “2”, such as the departmental account, 201604).
The table below outlines the ledgers you will find at NC State and how they are used.
| Ledger | Description |
|---|---|
| Ledger 2 (L2)* | Lower-Level L2 account (201XXX-249999) sources: state funds, startup, distance education (DE), summer session, special programming (e.g., salary release). Typically used for salary and fringe. Upper-Level L2 accounts (25XXX-299999) sources: overhead receipts (i.e.,F&A). Typically used for operational expenses (e.g., lab supplies, travel, equipment). All L2 accounts must be spent down within the fiscal year (FY). |
| Ledger 3 (L3)* | L3 account sources: Sales and service activities that are not part of a contract or gift (e.g., revenue from a workshop or service center). Lower-level L3 accounts (301XXX-399XXX) sources: ETF and service centers. Typically used for salary and operational expenses. Lower-level L3 funds must be spent down within the FY. Upper-Level L3 accounts (35XXXX; also referred to as trust funds). Can be used to purchase food (e.g., for workshops, conferences, etc). Upper-level L3 accounts do NOT need to be spent down within the FY. |
| Ledger 5 (L5) | External Awards. Sources vary (e.g., NIH, NSF). Learn more about L5 funds. (Link Forthcoming) |
| Ledger 6 (L6) | Two Types: 1. Foundation funds: These funds must follow restrictions set by the donor, thus each has specific spending guidelines. 2. Discretionary/Enhancement Funds: Flexible, but must be used for a valid university purpose (with supporting documentation). Alcoholic beverages are allowed, but should be limited. L6 accounts do NOT need to be spent down within the FY. |
| Ledger 7 (L7) | Endowment Funds: must follow restrictions set by the donor. Alcoholic beverages are allowed, but should be limited. L7 accounts do NOT need to be spent down within the FY. |
*These accounts are subject to State Fund Restrictions.