Understanding Product and Master Codes

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A product code is a two-character code that non-accounting personnel may use in place of a general ledger account number. The credit union defines a product code for each type of financial activity. Portico knows which general ledger account to debit or credit for a product code based on the following:

  • Share Profiles for the share type
  • Certificate Profiles for the certificate type
  • Loan Profiles for the loan type associated with the loan note number
  • Product Code Information window

Teller Administration also allows you to link one product code to another so the system will automatically calculate and assess a fee when you perform the financial transaction. The fee amount can be a fixed amount or a percentage of the product amount.

The first two characters of each master code indicate the master type that defines the type of processing. The master type appears as the first character of the master code. The valid types are: C (drawer), D (dividend), G (general ledger), and M (member).

The subtype code appears as the second character of the master code. For example, the master code for fees and other income is GI. The master type is G, and the subtype is I. The valid subtypes are:

For type M:

  • S - Share (non-IRA)
  • I - Share (IRA)
  • L - Loan
  • D - Credit Card
  • C - Certificate (non-IRA)
  • R - Certificate (IRA)
  • O - Other

For type G:

  • D - Cleared checks
  • I - Fees and other income
  • E - Expenses
  • K - Checks disbursed
  • L - Loan
  • O - Other
  • S - Share
  • T - Tax
  • X - Transfer

For type C:

  • B - US savings bonds
  • C - Cash, currency, and coins
  • K - Checks for deposit
  • O - Other

For type D:

  • V - Dividend

The third and fourth characters of the master code are unique identifiers. For example, the master code GKCU indicates general ledger (G) type, checks disbursed (K) subtype, credit union checks (CU). The unique identifier is CU. A master type with an unique identifier indicates the master has a one-to-one relationship with a product code. You must use the master code GKCU when setting up your credit union checks product code. The system will not allow another product to be cross-referenced to GKCU. Not all master codes have the unique identifier. For example, MS indicates member (M) type and shares (S) subtype. You can have unlimited product codes that cross-reference a two-character master code.

The master codes appear on the Master Code Table Transaction 9SV on the Portico Host. Only Portico can maintain the 9SV Transaction.