‘Did Somebody Say FOAPAL?’ Special Tip Series: Putting the second A in FOAPAL
We are back with the second last tip in this series. You won’t want to miss the surprising final chapter next Tuesday!
What is an Activity Code?
It is the fifth element in a FOAPAL. This code can made up of four to six digits and/ or characters (e.g. 6213, ESHOP, RCF103).
Activity Codes are user driven and therefore optional. They can be used to provide further detail/ breakdown for transactions in a fund or as a method to group transactions over a range of funds.
How do Account Codes and Activity Codes differ?
Both Account Codes and Activity Codes can be used to describe the nature of a transaction.
- HOWEVER, Account Codes are prescribed by Financial Services to describe the nature of transactions for Financial Services’ reporting purposes. They are a required portion of the FOAPAL (e.g. 716800 ‘Networking/ Reception Expenses’).
- Activity Codes are a customized list of codes which provide more detail for your reporting purposes (e.g. 1037 ‘Graduate Student Conference’).
If you combine both the example Account Code and Activity code above, you can tell that the transaction was for reception expenses related for a graduate student conference.
Why is the Activity Code important?
The Activity Code is there to help you with your reporting needs.
What else is it called?
- ACTV
Where do I find more information?
- A complete Activity Code listing can be accessed in FAST Finance Classic Reporting by selecting the drop down arrow adjacent to ‘ACTV’ on the main page after you log in.
- You can also contact your research administrator or the Controller’s Office if you have questions about which Activity Codes are used for your department or fund.