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Accounting Structure

Chart of Accounts

The chart of accounts is the numbering system used by the University's Enterprise Resource Planning (ERP) system, Banner, to record financial transactions.  Each entity at Drexel has its own chart of accounts.  The chart of accounts in Banner uses a Fund-Org-Account-Program-Activity-Location (FOAPAL) string or cost center to process transactions. The required components of the FOAPAL are the FOAP and are validated for every transaction by the system.  Activity and Location codes are optional and are only validated to the extent that they exist. 

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Fund

Fund codes are use to classify transactions based on their funding source.  Data enterable funds in Banner are 6 digits in length, while non-data enterable roll-ups may be 3 to 5 digits in length.  Fund codes will always have a default org or department code, with the exception of the entities unrestricted fund which can be used with any and all orgs in the chart.

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Org

Org codes are 4 digits in length and represent the organization's departmental hierarchy.  Orgs also have roll-ups that are 4 digits in length but not data-enterable.

Account

Accounts are used to classify transactions in the Banner ERP system as assets, liabilities, net assets revenues, expenses, and transfers.  Accounts are composed of 4 numerical digits.  Predecessor Accounts or roll-ups for revenues, expenses, and transfers can be 3, 5, or 6 digits in length and are not data enterable, but are used for financial reporting purposes.  Predecessor accounts or roll-ups for assets, liabilities and net assets are 4 digits in length and are distinguishable from as roll-ups by the fact that they are not data enterable.

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Program

The program code is a three digit code that allows financial reporting to classify expenditures by a function.   

Activity

Activity codes are established to track specific reporting needs that are not captured as a part of the FOAP. The Comptroller's Office will consider requests for these types of codes to accommodate additional reporting needs. Banner does not require this component of the FOAPAL string for all transactions. However, these codes do not have automatic system validation and when established by a department are required to be monitored by that unit for accuracy.

Location

Location codes are similar to activity codes in that they are not required by the Banner system. Mainly, these codes are required to track asset locations within the Banner Fixed Asset module. However, the Comptroller's Office does permit that these codes can be utilized to track financial data at a specific location. However, like activity codes, the proper utilization of these items must be validated by the department.