The project number uniquely identifies the Project in MakeWay's accounting system. The project number is how all financial activity relating to the Project is distinguished from the financial activity of all other Projects and operations in MakeWay. The project number (letter ‘P’ followed by three numbers, e.g., P555) is assigned when the Project joins MakeWay.

Projects can set up program area codes to track the financial transactions related to specific activities.

Projects must have at least one program area code (project name plus two numbers, e.g., P555-01) for their operational costs. Most Projects only need 2 to 5 program area codes.

Revenue codes (sometimes called award codes) identify the different sources of funding that a Project receives. Revenue codes are used to track funds that are restricted, or where expenses related to the funding need to be tracked.

Funds are considered restricted if the Project has signed an agreement with the funder to only use the funds for specific types of expenses or activities. This applies to most foundation and government funding, but can also relate to donations solicited through a specific appeal or for major gift or fee for service work.

Revenue codes are defined by MakeWay when a Project receives funds from a funder. However, in certain cases, MakeWay can define revenue codes prior to the receipt of funds if:

• The funding is confirmed in writing.
• The Project needs to start spending against these funds before the funds are received.

Revenue codes (e.g. P555-A0001) start with the project number, and are followed by a letter representing the type of funding (e.g. “A” for award or “F” for fee for service) and four numbers (e.g. 0001). There is no limit on the number of revenue codes that a Project can have.

The revenue code “NOAWARD” is assigned to funds that are not the result of an award or do not have a specific purpose (e.g. a donation from an individual).

A chart of accounts (COA) is an accounting tool that functions as a menu, identifying categories of financial transactions (e.g., office expenses) and specific items within each category (e.g. office supplies). Each category of the COA (asset, liability, revenue, expense) has its own unique account number.

The MakeWay COA applies to all Projects. To understand the MakeWay COA: 

• The first column is the account number, e.g. 63300.
• The second column is the name of the financial transaction, e.g., office supplies.
• The third column is a short description of the financial transaction.

Programs enter and code financial transactions on a weekly basis. Requests for adjustments to coding must be submitted to the Project's Financial Specialist within 10 days of the month-end so they can be amended in the correct period.