Accounting Procedures Manual-Section Updates

As outlined in the “What’s New” heading at the beginning of each section of the Accounting Procedures Manual (APM), there have been several updates.

Section 1: Fiscal Procedures 

1. Payroll – Wire Transfers for Payroll Direct Deposit Accounts – Information is provided on actions for colleges considering using ACH transfers into their Payroll Depository Accounts.
2. Foreign Nationals – Electronic Filing of Information Returns – Information has been updated in preparation of the retirement of the IRS FIRE System for electronic filing of information returns. Colleges are encouraged to begin processes to complete registration for the IRIS (Information Returns Intake System).
3. Capital Assets – Grouping of Assets – Information has been added discussing GASB Implementation Guide 2021-1, Question 5.1 and how to handle assets purchased as a group, when individually the items do not meet capitalization criteria.
4. Links have been updated and added for user convenience.
   1. State Board Community College Code links – Links added to this document lead to the complete State Board Code. You can access specific items by using the Table of Contents at the beginning of the SBCC Code or by using the control-F search mechanisms.
   2. OSC GASB Resources – Links added to this document may be specific or may lead to areas within the OSC website. Further search may be necessary to obtain complete information.

5. The document is reviewed and updated yearly by the College Technical Resources staff. Any questions/requests for additional information/changes should be directed to the System Office, Director, College Technical Resources.

Section 2: Chart of Accounts

1. Non-Formula VOC & Purpose Codes Combinations Listing – There is a special listing combining VOC & Purpose Codes frequently used together. This is not all inclusive but will provide quicker access for users when questions arise. This is located immediately behind VOC Codes on page 36.
2. Object Codes Listings – An added benefit for this version of the Accounting Procedures Manual is the addition of two Excel listings of Revenues and Expenses codes. These have been prepared to provide a quick go-to listing for colleges for questions regarding where an account is listed.  These listings do not include accounts that individual colleges may have set up for their purposes but include the accounts included in Object Codes.  Colleges should always review the description for an account before setting up the account.  This is located immediately behind Object Codes beginning on page 94.
3. Links have been updated and added for user convenience. State Board Community College Code links – Links added to this document lead to the complete State Board Code. You can access specific items by using the Table of Contents at the beginning of the SBCC Code or by using the control-F search mechanisms.

Section 3: General Statute Citation Index

The document has been reviewed and updated for legislative links to current North Carolina General Statutes.  Users are encouraged to review the current NC General Statutes to ensure most recent laws are being followed.

Links within all sections have been updated to reflect various websites updates. 

The revised Accounting Procedures Manual is available on the NCCC System Office website at: Accounting Procedures Manual and Reference Guide_ September 2025

Please ensure this information is shared with those on your campus who may also need this information.

To view the memo in its entirety, see CC25-077 – Accounting Procedures Manual Section Updates