Chart of Accounts and Financial Reports Manual Print Version
Introduction
The purpose of the Chart of Accounts and Financial Reports Manual is to assist employees in understanding the basics of the financial accounting system at Western Washington University (WWU) and the options for viewing this information and generating a variety of reports. The Manual is intended to be used by administrative staff who need to monitor financial activity (revenue, expenses, & transfers) within their department or other administrative unit. As stewards of the funds entrusted to
us, it is our obligation to the students of WWU and the taxpayers of the state of Washington to ensure that funding is used wisely and in accordance with University policy and State regulations.
Banner Finance is the system of record for all accounting transactions at WWU. Departmental staff throughout the university can access detailed accounting transaction information in a variety of ways. Reports can be generated from:
- Banner
- Millennium FAST-Finance
Understanding the Chart of Accounts (COA) is the key to interpreting all financial transactions at Western, regardless of which reporting format you choose to use. Banner also encompasses Human Resources and Student modules, but this guide will only provide information regarding the Chart of Accounts and its function in Banner Finance.
What is a Chart of Accounts?
The Banner Finance Chart of Accounts (COA) defines the organizational structure of Western’s accounting system through the use of a collection of codes that when grouped together allow the collection and reporting of the University’s accounting activity.
There are three common Chart of Accounts for the University:
- Chart 1 – Western Washington University
- Chart 2 – Western Foundation
- Chart 3 – Alumni Association.
Each of these Charts contains the same basic elements, referred to as FOAPAL elements, and the combination of codes is often referred to as an “accounting string” or “budget code.”
What is a FOAPAL?
FOAPAL is an acronym for Fund, Organization, Account, Program, Activity, and Location, and the combination of these elements are used to describe where revenue posts or where dollars are to be budgeted or expended. Every revenue and expense transaction at Western is required to have at least a Fund, Organization, Account, and Program code associated with it.
[Fund] [Organization] [Account] [Program] [Activity] [Location]
[Fast Index]
FOAPAL codes are established in a hierarchical configuration, meaning values within lower level codes can be summarized at a higher level, using the upper-level codes to facilitate reporting. For example, an academic department would have a lower-level code structured under the college’s upper-level code (roll-up code), and all colleges codes are structured under the Academic Affairs division code.
University (Level 1)
Academic Affairs (Level 2)
CHSS (Level 3)
Anthropology Department (Level 4)
Communication Studies Department (Level 4)
English (Level 4)
English Department (Level 5)
CBE (Level 3)
Accounting Department (Level 4)
Economics Department (Level 4)
Management Department (Level 4)
Top level roll-up codes will generally determine type of sub levels and will not be data enterable. Lower level codes will contain detail of which data is enterable.
This structure helps with the following:
Allows easy grouping and summarizing for processing and reporting.
Allow various reports to be rolled up at all levels.
Reflect relationships between the levels of responsibility.