University Accounting System

Account - Master File Key (MFK)

When preparing finaancial transactions such as Purchasing requisitions or Payroll forms you need to identify the account for the expenditure to be charged. The Account is referred to as the Master file key (MFK) which is up to 40 characters and divided into 10 elements or fields of information. Definitions of these elements are in Accounting Services' Accounting Code Manual. See also the CLAS Supplemental Funds page for frequently used "grant/program" and "OrgAcct" codes and their purposes.

Reports

The reports issued monthly by the Business Office (and on-line at www.bo.uiowa.edu/~gldss/) provide the DEO with information needed to manage the department's current budget and to develop projections of future budgets. If the department is managing grant funds, the Business Office issues separate reports on those funds. The DEO needs to monitor the terms and conditions of employment under grant contracts and the amount of grant funds, to ensure that monies needed for salaries will be available.

The University offers classes on the University Accounting System and financial reports through Staff Training and Development.. The University's Accounting Services web page contains links to several useful references.