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KFS Contracts & Grants

Kuali Financial System. KFS Contracts & Grants. University of California, Irvine Accounting Systems. Kuali Financial System. Agenda. Award Doc Chart of Accounts Cost Share. Kuali Financial System. Award Doc. Basic information on an Award Fed from SPA database

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KFS Contracts & Grants

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  1. Kuali Financial System KFSContracts & Grants University of California, Irvine Accounting Systems

  2. Kuali Financial System Agenda • Award Doc • Chart of Accounts • Cost Share

  3. Kuali Financial System Award Doc Basic information on an Award • Fed from SPA database • Not a replacement for e-Synopsis Used for creating KFS accounts for C&G

  4. Kuali Financial System COA – Chart of Accounts • The basis for recording, organizing, and reporting of financial information in KFS • The elements are required for transactions and will appear on reports • COA Elements Account Organization Sub Fund Group Code Higher Education Code Object Code

  5. Kuali Financial System KFS Transaction • Where (Funding Source) – Sub Fund Group Code • Who – Organization • What – Object Code/Description • Why – Higher Education Code • When – Date • How (much) – Amount

  6. Kuali Financial System What is an Account? KFS Account is a seven digit code UCI receives money, commonly referred to as “funding” from a wide variety of sources • State of California • Student Fees • Contracts and Grants • Gifts and Endowments • Self-Supporting Activities KFS Account is a unique accounting entity that has its own Assets, Liabilities,Income and Expense

  7. Kuali Financial System Major Fund Group Types at UCI

  8. Kuali Financial System What is an Object Code? • What the Money was used for? • KFS Object Code is 4 a digit number • Classifies transactions in KFS

  9. Kuali Financial System Expenditure Object Codes Expenditure Object Codes are categorized by Object Level Consolidation

  10. Kuali Financial System Higher Education Function Code

  11. Kuali Financial System KFS Cost Share The Kuali Financial System supports cost sharing with the use of special Sub-accounts. • CS – Cost share • EX – Expense Sub Account

  12. Kuali Financial System KFS Cost Share • The appropriate sub-account type, Cost Share, is linked from the C&G KFS Account to the cost sharing account. • When a purchase is made that will be classified as a cost share, the cost share sub-account on the C&G KFS Account is used on transaction line.

  13. Kuali Financial System KFS Cost Share Transaction Example

  14. Kuali Financial System KFS Cost Share - Phase I • Payroll portion of Cost Share will be done using the current Cost Share System • Supplies and Expenses will be processed through KFS Cost Share • The Current Cost Share System reporting will be available and will combine both Current and KFS Cost share Information

  15. Kuali Financial System KFS Cost Share - Phase II • UC Path is scheduled to go live October 2014 • KFS Labor Ledger will be implemented • All the Cost Share will be processed in KFS • New Reporting tools will follow

  16. Kuali Financial System THANK YOU ! Maria Lieggi, Accounting Systems Rebecca Tangen, Subject Matter Expert Daniel Wang, OIT Technical Staff

  17. Kuali Financial System Resources Kuali @ UCI http://www.kuali.uci.edu KFS Demo Site https://thea.adcom.uci.edu/kfs-dmo/portal.jsp Kuali Foundation http://www.kuali.org/

  18. Kuali Financial System Q&A

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