KFS Chart of accounts

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KFS Chart of accounts
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Agenda

• The Basics terminology
• Account and Award
• Accounting String
• Organization

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The Basics

• Two charts AZ and UA
• Accounts are self balancing assets,
  liabilities, fund balance, revenue, expense,
  budgets, encumbrances appear in the same account.
  State Funds will be an exception to this rule.
• FRS GL vs KFS GL KFS GL is the database where
  transactions and chart information are stored.

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ACCOUNT

• From FRS to KFS
• Additional Attributes
• Account
• Source of Funds
• Project Code
• FA SubCat
• Accession Code
• Org
• Report Sort Order code

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• NOTES
• Sub-fund should also display on the account
  inquiry the sub-fund for this account is
  IDCDPT.
• Freeze/Delete ? Expired/Closed

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• Responsible Persons and Authorized Signers have
  become
• Account Supervisor has an account leadership
  role.
• Account Manager has an account operational role.
• Fiscal Officer has an account oversight role.
• Additional Signers will be accommodated with
  Account Delegate

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• Account Delegation is set up for the Fiscal
  Officer
• Primary Document routes as if the person were
  the Fiscal Officer.
• Secondary Can retrieve documents for which they
  are authorized to approve.
• Things to think about
• Setting up delegations and fiscal officers.
• Organizational routing.

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• Sub-Fund aka Minor Fund
• Minor fund became sub-fund based on the Chart
  of Accounts maintained by FSO.
• Going from 2 digit Minor fund to 6 digit
  sub-fund.

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Accounting String
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Sub-Account Reporting Code
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Sub-Account
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Project Code
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General Ledger Entry aka 23
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Accounting String

• Things to think about
• Setting up sub-accounts to budget/track
  transactions at a finer level.
• Setting up financial reporting codes to link
  similar sub-accounts together. The Reporting code
  also facilitates a hierarchy.
• Setting up sub-object codes to track expenditures
  at a finer level.
• Setting up Project codes to track transactions
  across accounts for example, how much does it
  cost for the Outreach conference that is paid for
  out of several accounts.
• Adding the project code to an account to identify
  accounts for a particular project.

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• Organizations aka Department College, School,
  Sub-Department
• Organizations group other organizations and/or
  accounts.
• Accounts cannot be added to organizations above
  the budgeted organization.

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Organizations

• Things to think about
• How do you currently divide up your organization?
• What levels are you reporting at?
• Should accounts be grouped in some fashion?
• Are there separate approvals/routing for your
  different organizations?