Chart of Accounts Values
The updated Statewide COA Configuration Workbook has been uploaded to the Knowledge Center. The COA Configuration Workbook documents the Florida PALM Chart of Account values for the Financials and Payroll Waves. This workbook will continue to be updated and published at various points prior to go live.
The Project team supported DFS-Division of Accounting and Auditing (A&A) in the standardization of the future Florida PALM Revenue Account values. The Revenue Account values have been updated to a new structure and naming convention. For additional information on Revenue Account values (including a crosswalk to the Florida PALM Account values) please visit the Proposed Revenue Standardization List on DFS Accounting & Auditing Webpage.
Assets, Liabilities, and Equity Account ChartField values were configured/deployed at CMS Wave and are updated in the production environment, as needed by DFS A&A. Current CMS Wave end users with the appropriate user role(s) can access a current list of Account ChartField values by logging in to Florida PALM and accessing the GLR091 – ChartField Value Report located at: NavBar > Navigator > Set Up Financials/Supply Chain > Common Definitions > Design ChartFields > Reports > ChartField Reports.
Statewide Chart of Accounts Design
The Florida PALM Chart of Accounts (COA) was originally approved in 2020 and updated by the Project as part of the design activities for the Financials Wave Implementation. The Florida PALM COA establishes a standard structure for tracking and recording financial transactions. It is comprised of individual ChartFields, like the use of data elements in FLAIR, some of which are established and maintained at a statewide level and others which are agency-specific. The COA Design evolved and was refined through iterative and collaborative work with Department of Financial Services (DFS) Divisions and Offices, agencies, and enterprise partners and is applicable for all Waves.
Select the image below to experience an interactive learning tool. This tool will help you gain a better understanding of the individual ChartFields and their use within Florida PALM.
