New this Week: Search for Object Codes by Consolidation, Accounting Period Name Changes, and Fiscal Close Workshop Slides Now Online
Sent to KFS-Update on June 9, 2015
The Kuali Financial System was updated over the weekend, including a new feature that gives users the ability to search for Object Codes by Consolidation. Also below is important information about changes made to the names of accounting periods in KFS, and a link to download the slide deck from the recent fiscal closing workshops. Read on for more …
New search feature allows you to look up Object Codes by Consolidation
In response to user requests, the KFS team has added the ability to search for object codes according to their object consolidation. A new “Consolidation Code” box has been added to the Object Code Lookup screen. You simply enter in the consolidation code you want to look up and hit search. You can also use the magnifying glass link to find a particular consolidation code.
If you want to see, for example, which object codes fall into the Supplies and Materials (SUPL) consolidation, all you need to do is enter SUPL into the Consolidation Code box on the Object Code Lookup screen and hit search. A Consolidation Code column was also added to the search results, allowing users to sort by consolidation.
Adding this new search feature should make it easier to see how object codes report up to particular consolidation codes in the Chart of Accounts. It should also be useful for determining which object codes are connected to particular budget object codes.
Fiscal year-end close: New names for Fiscal Periods
Recently, you may have noticed a new term appearing in the Fiscal Period drop-down menu for eDocs like the General Error Correction (GEC) and both types of Budget eDocs (BA/BAT). The KFS team changed the naming system for the current June period and will soon add a special upcoming accounting period. The new names you should be aware of are:
- JUN15PER12 – This abbreviation stands for June 2015 - Period 12 and simply indicates that June is the 12th accounting period of the fiscal year. The name was changed to make it distinct from a special accounting period related to fiscal close called …
- JUN15FINAL – This one is primarily for use by UCI’s central office. Sometimes called Period 13, this final accounting period occurs after the fiscal year has closed. During the final period, Accounting will finalize UCI’s financial data for transmission to the University of California Office of the President. No transactions occur during this final period. Instead, all new business will be part of the regular July fiscal Period 1, which starts on July 1.
Download the PowerPoint Slides from the Fiscal Closing Workshops
During the past two weeks, Accounting and Fiscal Services offered multiple sessions of a fiscal closing workshop. If you’d like a refresher on the material or missed the sessions, you can download the full slide deck at www.accounting.uci.edu/fiscalclose/workshop.html