What's this I'm hearing about not being able to use 7200?

Yes, as a campus we can do a better job at delineating our service expenditures; 7200 has been overused as a "catch all". Since this notice from BFS went out on the Accounting List Serv in February, we've been asked a lot about which object code to use. It's best to consult with the Object Code List first, then match the object code to the appropriate Commodity Code in Gateway.
To summarize the notice, BFS is asking departments to do the following as soon as possible:
  1. Examine expenditures in your department charged to 7200 and transfer the large amounts to more appropriate object codes. Please use the Transfer of Expense system, especially for grant funds.
  2. Examine your Vendor Blanket Orders (“VB”) in Gateway
  • If the VB is over $100K, please contact General Accounting or the Gateway Helpdesk with the new object code change and BFS will correct the VB
  • Discontinue use of 7200 for all new POs
For more on this topic, click here to view the 7200 training slide deck BFS presented.

Unit or Topic: 

Procurement Services