Kuali chart of accounts
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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

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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


Chart of accounts at sample u

Chart of Accounts at Sample U


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 Code4100 “Office Supplies”

      Level S&E “Supplies and Expense”

      ConsolidationGENX “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


Questions

Questions?


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