Accounts in KFS

An account identifies a pool of funds assigned to a specific organizational entity for a specific purpose. Accounts are the fundamental building blocks of KFS transactions, since one or more of them are always associated with a transaction.

Account Types

Account type is an attribute of an account that categorizes (or groups) it along with other accounts for reporting purposes. KFS uses the following types:

Control Account

A Control Account is a KFS Account that represents a Fund. Control Accounts have a numbering convention that uses the letters "UC" followed by the fund number. The Account Type for Control Accounts is "CA".

A Control Account has specific rules and restrictions on what can be recorded on it. For example, expenses cannot be recorded on a Control Account.

All KFS Accounts have a Control Account associated with them.

Account Document and Account Global Document

The Account Maintenance Document is a KFS Document that allows users to copy or edit an existing Account. Go to the Account e-Document page for more information what each field in the Account Document means. In addition to the Account Document, there is a Account Global document, which is used to assign identical attributes to multiple accounts on a single document.

Higher Education Function Code

An account's Higher Education Function Code is a Standardized reporting classifications for higher education as defined by the National Association of College and University Business Officials (NACUBO). In the Kuali Financial System, a 4-digit code assigned to each account to define the overall purpose of the account. The 4-digit code is driven by the first 2 digits of the UC Account number. Example: INSP = Institutional Support (72). Below is a table of the Higher Education Codes and their relationship to UC Accounts.