Account - The
account code is the fourth set of numbers in a FOAPAL. The six digit code identifies objects, such as the general
ledger accounts (assets, liabilities, control, fund balances) and the operating
ledger accounts (revenues, expenditures, transfers). Account codes may be established
in a hierarchy of up to four levels for roll-up and reporting purpose.
Accrual - The accural is an accounting term that refers to situations where
goods and services have been received but cash has not been exchanged. For more information on accruals, please visit Accounting and Business Services' Financial Certification page.
Activity - The activity code is the fifth set of numbers in a
FOAPAL. The optional designation is non-hierarchical and can be used to
further
define an object of expenditure; such as temporary units of work,
subsidiary
functional classifications, or short duration projects.The activity code
is used for departmental use.
Adjusted Budget – Original
budget plus any budget adjustments.
Adopted Budget – Original
budget allocated at the beginning of the fiscal year.
Available Balance – Remaining
budget left to spend = total budget minus commitments minus actual
expenditures.
Budget Adjustment – Any
additions or reductions made to the budget since the original budget
allocation.
Bid Process – The process of
allowing potential vendors compete in the purchasing of goods or services.
Buyer – The individual in
Purchasing Services who created the purchase order.
Central Receiving – The central
location where all goods purchased by the University should be directed to be
accepted by University personnel. Central Receiving will verify all items
ordered on PO.
Chart of Accounts (COA) – The
COA defines the accounting distribution used on all transactions processed in
the Banner Finance module. The chart code is a one character, alpha/numeric
field that uniquely identifies a particular chart. Banner Finance will
accommodate multiple charts of accounts – each with a different chart code. The
University of San Francisco chart code is always S.
Code Criteria – The search
criteria for the type of item you are searching. You may use the Banner
wildcard character of % to assist in the search.
Commitment – Equal to the total
budget set aside for future obligations. Commitments are made up of
Reservations and Encumbrances.
Commodity – The good(s) or
services(s) being purchased.
Commodity Level Accounting – A
way of processing requisitions and purchase orders in which each “line”
(commodity) of the requisition will have its own accounting distribution.
Typically, this accounting feature is used when supplies and equipment (fixed assets)
are requested on one requisition.
Contract – A Purchasing
contract that establishes with selected vendors and suppliers in order to
maximize the purchasing power of the University while reducing the overall cost
of goods and services from the vendor or supplier.
Discount – Reductions to a
basic price for goods and services.
Document Level Accounting – A
way of processing requisitions or purchase orders in which the accounting
distribution entered on the requisition applies to the whole requisition.
Document Text – A text entry
area where inputted information will appear on the purchase order above the
line items.
Encumbrance – This is the
encumbering of funds against the budget for a specific purchase order. The encumbrance
is established when a purchase order is approved. The encumbrance is reduced or
eliminated when the invoice is approved (a payment is issued) or when the encumbrance
is cancelled (the purchase order is cancelled or paid in full).
e-REQ – An electronic requisition that is used as an authorized,
departmental request to purchase of goods and services. For more information on e-REQs, please visit our e-REQ page.
Fiscal Period – The number of
the fiscal month you wish to query (i.e. June is 01, July is 02 … May is 12,
All = 14)
Fiscal Year (FY) – Represents
the University’s fiscal year beginning June 1st and ending May 31st.
For example, FY 2010 relates to the year starting June 1st 2009 and
ending May 31st 2010.
FOAPAL - is an account code structure in Banner, the University's Administrative System suite. The acronym for FOAPAL is Fund, Organization, Account, Program, Activity and Location. For more information on the FOAPAL, please visit Business & Finance FOAPAL page.
Fund – The fund is the first set of numbers in a FOAPAL. The six digit code identifies a self-balancing set of accounts and identifies ownership. It
is the highest level of accounting information set up in the accounting
distribution.
Goods – Any equipment, supplies
and/or materials having physical properties.
Location – The location is the sixth set of numbers in a FOAPAL. The
primarily use of the location is to show a fixed asset module to identify the physical location of an
asset. The location is currently not utilized by USF.
Manufacturer – A person or company
making or producing the goods.
Organization – The organization
is the second set of numbers in a FOAPAL. The six digit code identifies a unit of budgetary responsibility and/or
departments within an institution.
Program – The program code is a
4 digit code that identifies a function and enables the institution to
establish a method of classifying transactions across organizations and
accounts.
Proof of Delivery (POD) – A
document used by Purchasing and Central Receiving to show proof that an item
from a PO was received by the requesting
department
Purchase Order (PO) – A document used to place an order for good(s)
and/or service(s) with a supplier by Purchasing at the request of a department.
Purchase orders can be regular purchase orders or standing purchase orders.
Purchase Requisition – An authorized,
departmental request to purchase of goods and services.
Purchasing Card (P-Card) – A
Visa card assigned to an employee for business purposes. The P-card should be
used for low dollar and immediately needed purchases that do not violate the
purchasing guidelines set by Business & Finance.
Quantity – The number of items
being requested.
Requester – The person asking
for certain goods or services.
Reservation – A reservation is
created when a requisition is completed in Banner. It represents an internal
request for expenditure against a budget. A reservation is liquidated when a PO is created.
Services – Any act from a
secondary party providing labor, equipment and/or materials to the University.
Ship – Where goods will be
shipped.
Supplier – A person or company
who supplies goods or services. Same as “Vendor”
Standing Order – An open-ended
purchase order is issued by Purchasing by the request of the department. This
allows for the addition of items or payment on items on a standing order PO.
Unit of Measure (UOM) –
Identifies the unit of measurement of the item or services being requested
(i.e. EA for each, PK for pack, FRT for freight).
Unit Price – The cost per unit.
Vendor – A person or company selling
goods or providing services. Also known as a dealer.
Year-to-date – Represents the
actual revenue and expenditures posted to a budget.
