What are FOAPAL elements?
FOAPAL is an acronym for the six chart of accounts elements used to process financial data (Fund, Organization, Account, Program, Activity, Location). Transactions in the Operating Ledger (OPAL) require fund, organization, account, and program, sometimes referred to as FOAP. Transactions in the General Ledger require only fund and account. All of the elements, with the exception of activity codes, are hierarchical and roll up from lower data entry levels to higher summary levels.
Department Payroll Administrators