Accounting Periods on eDocs During Fiscal Close

Sent to the KFS-Update mailing list on June 29, 2018

Accounting period drop down menu

To make the fiscal closing process easier for campus departments, the following KFS documents will default to the June (JUN18PER12) accounting period from July 1 to 18

  • General Error Correction (GEC)
  • Restricted General Error Correction (GECR)
  • Budget Appropriate Transactions (BAT)
  • Auxiliary Voucher (AV)
  • Distribution of Income and Expense (DI)  (closes 7/11)
  • Internal Billing (IB)  (closes 7/6)

These documents will revert back to their normal behavior and the July 2018 accounting period on July 19.

BA eDocs will Default to July

Because Inception-to-date accounts have new budgets being created and transferred during this period, the Budget Adjustment (BA) e-document will not default to June (it will default to the current period of “JULY 2018”). However, users can select June in the drop down of the document if making budgetary transfers or re-alignments.

General Ledger Balance and Entry Lookup

When performing ledger balance or any entry lookups inside KFS, please note that the Fiscal Year and Period all default to “current” Period 01 and Fiscal Year 2019, effective July 1.

Tip for GECs and GECRs

The default period to post the GEC/GECR defaults to JUNE18PER12 when creating the document. However, when performing ledger lookups, users must be sure to change the Fiscal Year in order to find and import their transactions from the previous fiscal year.

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