July Fiscal Period Data and Beginning Balances

Sent to the KFS-Update mailing list on July 28, 2017

July final transactions should be available for viewing in Decision Support on Tuesday, Aug. 8. If any YEDA, AV, or YEAV e-documents impacted your department ledgers in June as part of fiscal year-end close, you will see the reversals of those accruals and deferrals in your July (Fiscal Period 01) ledger. The Account Summary Report will include balances that combine all carryforward and July activity.

Carryforwards and Base Budget

In the Kuali Financial System, Carryforward balances and Base Budget are contained in either Fiscal Period BB (Beginning Balances) or CB (Contracts and Grants Beginning Balances). These transactions are not included in the July account transaction ledgers.

Starting on Tuesday, Aug. 1, we anticipate the following transactions will be found in Fiscal Periods BB or CB:

  • New Base Budget and Current Budget balances will be established in Fiscal Period BB.
  • Balance sheet object code beginning balances are included in Fiscal Period BB.
  • Unexpended budget carryforwards from the previous fiscal year are included in Fiscal Period BB.
  • Inception-to-date fund balance carryforwards are included in Fiscal Period CB.

The PI Report will also be updated to include this data on the morning of Aug. 1. You can view the CB and BB Fiscal Periods in the Account Transaction & Summary ledgers if you would like to see carryforward activity only.

Important! You should reconcile beginning balances as well as July ledgers, to ensure your June fiscal year-end closing activity yielded the expected results.

Decision Support Reports will Default to 2018 this Weekend

Beginning on July 30, Decision Support criteria selection will default to fiscal year 2018. If you want to look at 2017 transactions, you will need to manually select 2017.

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