An accounting term which refers to a period which is not closed, one to which transactions can still be posted. There may be several periods open simultaneously. Used to characterize the area or type of expenditure on expense accounts. The official University object code consists of up to five digits. The first two digits of the object code are called the primary object code.
All official budgets are at the primary object code level.
Primary object codes are defined by the University. The first three digits of the object code are called the detail object code. Actual expenditures and recoveries are at the detail object code level. Detail object codes are defined by the University. The last two digits of the object code are called the user object code.