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What is a FOAPAL?

April 26, 2017foapal

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What is a FOAPAL?

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• The chart of accounts structure in the new Finance system is composed of six elements: Fund, Organization, Account, Program, Activity, and Location. Each elemlent is a string of digits (or alphanumeric). This string of elements is used to record a financial transaction. FOAPAL will be used for classification, budgeting, recording and reporting. Read below to find out more. Also see the “What’s a FOAPAL” document for additonal detail.

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FOAPAL is an Account Number that is made up of your Fund, Organization, Account Code and Program. Each component is explained in the training book on page 2.