Sent to KFS-Update on June 18, 2015
In this message: KFS has extended hours for fiscal close and a new weekly action list email reminder is being sent out to all users. Plus, a warning to send your supporting documentation to scanning as soon as possible with the June 24 deadline coming soon. Keep reading for more.
TEM and DV Deadline is June 24: Send supporting documents to scanning ASAP
Disbursement Vouchers (DV) and all Travel and Event Management (TEM) eDocs must be submitted, scanned, and approved by Travel Accounting by 4 p.m. on June 24 to be recorded as expenses for 2014-15. If you haven’t yet sent supporting documentation to scanning and want that DV or TEM to be recorded in 2014-15, you need to do so as soon as possible. DO NOT hold the documents if you think you will miss the June 24 deadline. Submit your TEM or DV eDocs and send your documents and receipts to scanning immediately. The Accounting office will make every effort to post them to the June ledger.
Check the scanned status of your eDocs
Department users can perform a Custom Document Search for Travel Reimbursements (TR), Entertainment Reimbursements (ENT), or Moving and Relocation Reimbursements (RELO) documents to see what may be in “Awaiting Document Scanning” status. For both DVs and TEM documents, Department Initiators and approvers are responsible for checking that the “Scanned?” Indicator displays “Y,” in order for their document to be eligible for Accounts Payable’s review and finalization.
Supporting Documentation and DVs
If the supporting documentation for your DV was scanned into a copied-from e-document, Accounts Payable recommends that you simply print and scan the DV’s coversheet to ensure it shows up as scanned in their action list. This will help expedite the approval process.
Please also review older documents for notes that Accounts Payable has added requesting additional supporting documents or approvals. Accounts Payable is making every effort to contact the initiator as well to inform them of any additional requirements.
Extended KFS Hours for Fiscal Close: New shutdown time is 8 p.m.
The KFS team is pleased to announce that starting today the Kuali Financial System will be available in the evenings until 8 p.m., Monday through Friday. This extended availability was added to assist our partners in the departments, as they prepare for fiscal year-end close. The system will return to its regularly scheduled 7 p.m. nightly shutdown on Aug. 1.
|Extended KFS Hours (June 18 – Aug. 1)|
|Monday – Friday:||7 a.m. to 8 p.m.|
|Saturday and Sunday||Expected to be available 7 a.m. to 5 p.m.|
Coming Soon. A new system shutdown warning is also in development. Once implemented, the warning will appear onscreen one hour before KFS shuts down for the evening, alerting users that they need to save or finish their work.
New weekly reminder emails will summarize eDocs that need action
Beginning next week, all KFS users will automatically receive a weekly reminder email summarizing all e-documents in their Action List that require approval or acknowledgement. These new emails are being sent to encourage all users to address items in their action list in a reasonable timeframe. Prompt approval or review of KFS eDocs is an essential part of responsible financial management and is critical during month-end and fiscal year-end close.
Responsibly Managing UCI’s Financial Resources
Keeping up on your Action List helps identify and correct financial and budget transaction errors before they become a problem and alerts Financial Managers that certain transactions have been processed. It also facilitates the monthly task of ledger review and reconciliation. Similarly, Accounts Payable transactions (e.g., travel reimbursements, vendor payments, and disbursement vouchers) result in the immediate disbursement of funds. It is critical that these transactions are approved as soon as possible—particularly for people relying on prompt payment.
Another critical financial management function that KFS workflow accomplishes is establishing accountability. Each financial transaction should be processed within an established accountability structure that ensures no one employee has total control of a transaction. The approval process built into KFS reduces the risk of inappropriate actions or uncorrected errors and provides for a minimal level of separation of duties through the required involvement of at least two employees in each transaction.