Finance Basics
In this lesson you will learn:
- Spending and Receiving at Macalester
- Tracking Expenditures and Revenue
- What is a FOAPAL?
- Finance Approvals
Overview: Spending and Receiving at Macalester (Google Slides) (under construction)
A FOAPAL is a combination of numeric elements of categorizing Macalester’s various financial transactions to track spending and revenue. Each letter in the acronym represents a different category.
Fund – Organization – Account – Program – Activity – Location
FFFFFF-OOOOOO-AAAAAA-PP-AAAA-LLLL, for more detail on each element of the FOAPAL, see What is a FOAPAL?
Finance Expense Account Code Descriptions (gDoc) Choose an Account code from this list to complete the AAAAAA if you have an EXPENSE to code.
Finance Revenue Account Code Descriptions (gDoc) Choose an Account code from this list to complete the AAAAAA if you have REVENUE to code.
Commonly Used Account Codes (gDoc)
Macalester Finance Approvals Explained
Guide to Document Codes, FOAPAL Syntax, Fiscal Periods and general account categories can be found at Accounting Guide (gDoc)
Go to Finance Foundations at Macalester to find additional lessons.