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Kuali Chart of Accounts. Claire Tyson, San Joaquin Delta College Bill Overman, Indiana University. Kuali (KFS) Chart. Simple Account Identification Number Transaction Object Code Sub Accounts/Sub Object Codes as Needed Numerous Attributes Linked to the Account Identification Number

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kuali chart of accounts

Kuali Chart of Accounts

Claire Tyson, San Joaquin Delta College

Bill Overman, Indiana University

kuali kfs chart
Kuali (KFS) Chart
  • Simple Account Identification Number
  • Transaction Object Code
  • Sub Accounts/Sub Object Codes as Needed
  • Numerous Attributes Linked to the Account Identification Number
  • Multiple Charts if Needed
purpose of a chart of accounts
Purpose of a Chart of Accounts
  • What is the primary purpose of a chart of accounts?
    • To support and validate entries into a general ledger
    • Support internal controls
  • What other functions does the Kuali chart of accounts serve?
    • Document routing and approvals
    • Framework for budget construction
    • Reporting, both internal and external
kfs chart features
KFS Chart Features
  • Chart
    • Ability to have multiple charts
    • Charts are hierarchical
  • Organization
    • Hierarchical
    • Facilitates reporting, workflow, controls
  • Account/Sub-Account
    • Report up through organizations
    • Allows for further division of an account for internal reporting purposes
kfs chart features1
KFS Chart Features
  • Object code and sub-object codes
    • Track expenditure types of categories
    • Allows for further division of an object for internal reporting purposes
  • Object level codes and object consolidation codes
    • Provides ability to combine and consolidate by object groups for reporting
  • Extended attributes
kfs chart features2
KFS Chart Features
  • Extended Attributes
    • Can be used throughout Chart (e.g. Orgs, Accounts, Object Codes, etc.)
    • What is it?
      • Additional field to “tag” chart objects with a unique identifier
    • How to use
      • Use to “link” chart objects that are not naturally linked for reporting purposes – i.e. tool for pre-existing reporting requirements that don\'t fit neatly into hierarchical structure
    • Example
      • Interdepartmental activities, link unrelated organizational units (cross functional teams, etc.), inter-disciplinary activities
benefits of multiple charts
Benefits of Multiple Charts
  • Ability to handle complex reporting structures
  • Campus charts are not required to contain object codes unrelated to their activities (i.e. Cost of Goods Sold, Inventory, etc.)
  • Auxiliary Charts are not required to contain object codes unrelated to their activities (i.e. Tuition, State Appropriations)
  • Easy access to campus level or Auxiliary reporting
  • Increased information and knowledge at the campus level
organizations
Organizations
  • Organization
    • Example: FMOP (Financial Management Operations)
    • Collection of accounts and/or other organizations
    • Some organization features:
      • Chart of Accounts, Campus, Department, Responsibility Center, Subunit
      • Can include all fund groups
      • Up to four alphanumeric characters (eg. FMOP)
      • Extension HRMS table (customizable)
organization hierarchy at su
Organization Hierarchy at SU

UNIV

WA

VPBus

FM

FMSY

FMOP

accounts
Accounts
  • Account Number
    • Specific identifier for a pool of funds assigned to a specific organization for a specific function.
      • Example: 1912610 (Financial Management Administration)

Reports to org FMOP

    • All accounts can be self-balancing or can post claim on cash offsets to a control account
org hierarchy with accounts
Org Hierarchy with Accounts

UNIV

WA

VPBus

FM

FMSY

FMOP

1912631

1912610

sub accounts
Sub-Accounts
  • Sub-accounts achieve further division of an account for internal reporting purposes.
  • Example: finpr (FM Financial Processing)

Reports to 1912610

  • Characteristics of a sub-account:
    • Account specific
    • Assumes all features of the account it reports to
org heir with accounts sub accounts
Org Heir with Accounts/Sub Accounts

UNIV

WA

VPBus

FM

FMSY

FMOP

1912631

1912610

reprt

finpr

object codes
Object Codes
  • Object Codes are detailed identifiers for Income, Expense, Asset, Liability and Fund Balances.
    • Chart specific
    • Four numeric digits
    • Example 1: West-2000 “Academic Salaries”

East-2000 “Academic Salaries”

    • Example 2: West-1504 “Animal Care Income”

East-1504 “Card Services Income”

sub object codes
Sub-Object Codes
  • Sub-object codes achieve further division of an object code for internal reporting purposes
  • Features of a sub-object include the following:
    • Specific to an account and object code
    • Assumes all features of the object code it reports to
  • Example: In State Travel Object Code 6000
    • Faculty Instate Travel, Fac
    • Staff Instate Travel, Sta
    • Student Instate Travel, Stu
levels and consolidations
Levels and Consolidations
  • All object codes report to a higher Level code and each Level code reports to a higher Consolidation code
    • Approximately 80 Levels (although no limit)
    • Approximately 20 Consolidations (no limit)
    • Example:

Object Code 4100 “Office Supplies”

Level S&E “Supplies and Expense”

Consolidation GENX “General Expenses”

extended attributes
Extended Attributes
  • Extended Attributes are extensions of an Account that enable:
    • Search by attribute
    • Lookup by attribute
    • Balance inquiry retrieval by attribute
    • Reporting by attribute
  • Extended Attributes can be alpha / numeric.
  • They are optional.
management control and coa
Management Control and COA
  • How can I use the chart for organizational management?
    • Flexibility in Reporting
    • Flexibility in making Routing decisions
    • Hierarchy for Responsibility Management
    • Facilitates internal controls by assigning fiscal officers, account managers, supervisors
    • Transparency of data to measure performance of departments and subunits
management control and coa1
Management Control and COA
  • What tools are provided to achieve reporting objectives?
    • With the Approval of the Chart Manager
      • Organizations
      • Accounts
      • Object codes
    • Sub-accounts (budgeting / spending)
    • Sub-object codes (budgeting / spending)
    • On line balance inquiries and formal reports through use of data warehouse
creating your own chart
Creating your own Chart

General questions to consider:

  • Just because it can be changed, should it?
    • What currently works, what doesn’t?
    • Implications for historical comparisons
  • What are the reporting requirements?
    • Institutional financial reporting (external)
    • Summarized management reporting
    • Departmental detail
    • Ad hoc reporting
creating your own chart1
Creating your own Chart

Chart questions to consider:

  • Does the institution need multiple charts?
    • For separate campuses
    • For auxiliary operations
    • For high level institutional financial reporting
  • Will interfaced systems be able to accommodate multiple charts?
  • Will it add confusion for users?
creating your own chart2
Creating your own Chart

Organization questions to consider:

  • What should be the basis for the organizational hierarchy?
    • Lines of authority
    • Lines of business (disciplines, auxiliaries, etc.)
    • Financial reporting requirements
  • How should the org structure relate to other administrative systems (e.g. HR)?
  • Do orgs need to be grouped in a way other than hierarchical?
  • How narrowly should org attributes (e.g. type) be defined?
creating your own chart3
Creating your own Chart

Account questions to consider:

  • Should existing account structure be preserved or should entirely new structure be created?
  • If new structure is used, can a map from old to new be created?
  • Should fund/sub-fund attribute perpetuate fund accounting or represent a different way of grouping accounts?
  • Should accounts be self-balancing, or should the institution use the “flexible claim on cash” option?
  • How should sub-accounts be used?
coa next steps
CoA Next Steps
  • Kuali Demo Labs Tuesday 1 pm
  • Kualitestdrive.org
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