What is the FDM?
In our legacy state systems, we used to have six-digit budget numbers to track revenue and expenses against specific budgets. What many may not have realized is that those six-digit numbers represented a variety of attributes from Fund, Fund Type (Resource) ,to unit (cost center), to nacubo reporting function, to Assignee, etc. The FDM is no different. We have basic elements that we tag as expenses or revenue transactions.
What is required for transactions?
The bare minimum required is a cost center (CCXXXXX) and Resource (RSXXXX). You can add additional worktags to enhance cost accounting which include: Program Worktags, Assignee, Stand Alone Grants, Award Grant worktags, activity worktags, etc.
All expenses and revenues must also be accompanied by spend category or revenue category (which replaces the legacy state account codes that the University used)