KFS Training Manual Financial Processing Basics

Transcription

1 KFS Training Manual Financial Processing Basics

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3 Table of Contents University of Maryland Objectives... iv Resources... iv Kuali Financial Systems... 1 Reclassifications of Income or Expense using the Distribution of Income and Expense... 1 Balance Sheet & Income to Expense Reclassifications using the Auxiliary Voucher Reclassifications of Income or Expense for Sponsored Accounts using the General Error Correction Mandatory and Non-Mandatory Transfers using the Transfer of Funds edoc Page iii

4 Objectives Understand how to Reclassify Income or Expense using the Distribution of Income and Expense edoc Understand how to use the Auxiliary Voucher Understand how to Reclassify Income or Expense for Sponsored Accounts using the General Error Correction Understand how to search for a transaction using the General Ledger Entry Lookup Understand how to use the transfers funds on Mandatory and Non-Mandatory Transfers using the Transfer of Funds edoc Resources All of the materials covered in this workshop are also covered in the online tutorials found here: The online tutorials can be useful before or after training in case you want to get a head start on training or just need a quick refresher. your questions to kfs@umd.edu. The Kuali Financial Website has the following pages to assist you with using Kuali Financial Systems. KFS Training Registration: Helpful Resources: UMD Policies and Procedures: * In order to connect to the Kuali Financial System (KFS) users MUST already be connected to the campus VPN with the UMapps profile/group BEFORE trying to connect to the KFS. VPN Software is available via the IT Service Center and includes the download and software installation instructions. You can click on the VPN Software link above or copy and paste the VPN Software link into a browser. ( R=33566) Page iv

5 REVISION LOG This document is under version control. Version Date Description /31/13 Revision Log Added /13/13 Updated verbiage on page 28 step 15 and removed blank page. Page v

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7 Kuali Financial Systems Reclassifications of Income or Expense using the Distribution of Income and Expense Procedure The DI document is used to distribute the income or expense only from a holding account to one or more appropriate account(s) when one account has incurred expenses or received income on behalf of one or more other accounts. It can also be used to move income or expenses to other accounts or object codes. An example would be allocating P-Card transactions to multiple Accounts and/or Object Codes. Please view the Journal Entries Workflow on page 46. Navigation: Main Menu > Transactions > Distribution of Income and Expense 1. On the Main Menu tab, click the Distribution of Income and Expense link. 2. Click the collapse all button. Page 1

8 3. To open the Document Overview tab, click the show button. Page 2

9 4. Enter an appropriate Description of the transaction. This Description will appear in document searches. Enter "Transfer travel expense to UMD Dept Two" in the Description: field. 5. Although it is not a system-required field, UMD is requiring the Explanation field to be entered as a further explanation of why the DI is being initiated. Note: The field has a maximum of 70 characters. Enter "Travel expenses for J. Doe 7/13/13" in the Explanation: field. 6. Enter your predefined department and sequential log number. Enter "GAO222" in the Organization Document Number: field. 7. The Total Amount field is display only and will be populated once the amounts are added to the Accounting Lines. 8. To close the Document Overview tab, click the hide button. 9. To open the Accounting Lines tab, click the show button. Page 3

10 10. The DI edoc has an import lines feature that allows you to import any number of accounting lines and other types of data from a comma-delimited (.csv) file created from data import templates. Note: For more information on using the Import Lines feature, please view the Using the Import Accounting Lines Button tutorial. 11. The From section of the Accounting Lines tab represents a decrease in income (revenue) or expense. 12. In the From Section, click the Chart drop-down arrow button. 13. Select the appropriate Chart Code. Select the 01 option from the drop-down menu. Page 4

11 14. Enter the appropriate Account. If you do not know the account number, you may click on the search magnifying glass to conduct a lookup. Enter " " in the Account field. 15. Enter the appropriate Object Code. If you do not know the object code, you may click on the search magnifying glass to conduct a lookup. Enter "3311" in the Object field. Page 5

12 16. Enter the amount that you want to move or re-allocate. Enter "100.00" in the Amount field. 17. Enter an appropriate Line Description. This is not a required field. Enter "J. Doe Travel 7/13/13" in the Line Description field. Page 6

13 18. This document allows multiple lines in the From and To section. This example is only using one accounting line in each section. Click the add button. 19. The To section of the Accounting Lines tab represents an increase in income (revenue) or expense. Page 7

14 20. In the To section, click the Chart drop-down arrow button. 21. Select the appropriate Chart Code. Select 01 from the drop-down menu. 22. Enter the appropriate Account. Enter " " in the Account field. 23. Enter the appropriate Object Code. Enter "3311" in the Object field. 24. Enter the amount you want to move or re-allocate. The total amount(s) entered in the From accounting lines should equal the total amount(s) entered in the To accounting lines. Enter "100.00" in the Amount field. 25. Enter an appropriate Line Description. This is not a required field. Enter "J. Doe Travel 7/13/13" in the Line Description field. Page 8

15 26. Click the add button. 27. To close the Accounting Lines tab, click the hide button. Page 9

16 28. Click the submit button once you have completed all the required fields on this edoc. Note: Be sure you receive a "Document was successfully submitted" message at the top of the page. 29. You have successfully completed the Reclassifications of Income or Expense using the Distribution of Income and Expense tutorial. End of Procedure. Balance Sheet & Income to Expense Reclassifications using the Auxiliary Voucher Procedure The Auxiliary Voucher is used for making all other entries that are not income-toincome, expense-to-expense, or transfer transactions. This would include entries between income and expense, or those affecting any Asset or Liability accounts. Examples would include transactions affecting clearing, prepaid, or deferred object codes or the case of a refunded item needing to be reclassified. Navigation: Main Menu > Transactions > Financial Processing > Auxiliary Voucher Page 10

17 1. Click the Auxiliary Voucher link. 2. Click the collapse all button. 3. To open the Document Overview tab, click the show button. Page 11

18 4. Enter an appropriate description of the transaction. Note: This description will appear in document searches. Enter "ABC Co. service contracts 7/1-7/31/2013" in the Description: field. 5. Although it is not a system-required field, UMD is requiring the Explanation field to be entered as a further explanation of why the Auxiliary Voucher is being entered. Enter "To record expense from prepaid service contract JUL 2013" in the Explanation: field. 6. Enter your predefined department and sequential log number. Enter "GAO333" in the Organization Document Number: field. Page 12

19 7. To close the Document Overview tab, click the hide button. Page 13

20 8. To open the Auxiliary Voucher tab, click the show button. 9. The Accounting Period will default to the current period and should not be changed. Note: The form will also default to the Adjustment radio button and should not be changed. 10. To close the Auxiliary Voucher tab, click the hide button. 11. To open the Accounting Lines tab, click the show button. Page 14

21 12. Click the button to the right of the Chart Code field. 13. Select the appropriate Chart Code. Select 01 from the drop-down menu. Page 15

22 14. Enter an appropriate account number. If you do not know the account number, you may click on the search magnifying glass to conduct a lookup. Enter " " in the Account Number for New Line field. 15. Enter an appropriate Object Code. If you do not know the account number, you may click on the search magnifying glass to conduct a lookup. Enter "6610" in the Object Code field. 16. Enter the transaction amount. Enter " " into the Credit field. Page 16

23 17. Click the add button. Page 17

24 18. To add an additional line, click the button to the right of the Chart Code field. 19. Select an appropriate Chart Code. Select 01 from the drop-down menu. 20. Enter an appropriate account number. Enter " " in the Account Number field. Page 18

25 21. Enter an appropriate Object Code. Enter "3752" in the Object Code field. 22. Enter the transaction amount. The total debit and credit amount(s) entered in all accounting lines should equal. Enter " " in the Debit field. Page 19

26 23. Click the add button. Page 20

27 24. To close the Accounting Lines tab, click the hide button. 25. Click the submit button once you have completed all the required fields on this edoc. Note: Be sure you receive a "Document was successfully submitted" message at the top of the page. 26. You have successfully completed the Balance Sheet & Income and Expense reclassifications using the Auxiliary Voucher tutorial. End of Procedure. Page 21

28 Reclassifications of Income or Expense for Sponsored Accounts using the General Error Correction Procedure The General Error Correction edoc allows users to easily make corrections to edocs that were previously submitted and approved. Examples of common usage at UMD are: Correcting of accounts and object codes on a Financial Processing (FP) e-doc, or a PREQ (PO invoice). Account correction for an expense (e.g., supplies were charged to an incorrect account). 1. Before you begin the General Error Correction process, you need to research for the entry in the General Ledger Entry for the transaction that needs to be corrected. 2. To open the General Ledger Entry screen click the link from the Main Menu. Click the General Ledger Entry link. Page 22

29 3. The General Error Correction (GEC) edoc is used to correct entries that have already posted to the General Ledger. This includes entries with either a 'Final' or 'in process' status. Note: The GEC is not used for redistributing income or expenses. Use the Distribution of Income and Expense e-doc, to correct salary and/or fringe benefits expenses use the Salary Expenses Transfer or to transfer funds use the Transfer of Funds e-doc. 4. Enter the appropriate Chart Code. Enter "01" in the Chart Code: field. 5. Enter an account number or search for an account number by using a wildcard (*). Enter "1118*" in the Account Number: field, or enter Note: For training purposes you will be using a ledger one accounts for this example. 6. Enter the appropriate Object Code. Enter "3916" in the Object Code: field. Note: To search for all Object Codes, use only an asterisk in the search field. Page 23

30 7. The Fiscal Period field will default to the current Fiscal Period. Enter the Fiscal Period when the transaction being searched occurred. Enter "01" in the Fiscal Period: field. 8. Click the search button. 9. The transaction search displays details on the accounting transaction. Including the Fiscal Year, Chart Code, Account Number, Object Code, Ledger Description, and Amount. Page 24

31 10. Locate the Origin Code and Document Number. Note: To complete the General Error Correction edoc, you will need to know the document number of the transaction that created the entry, the origin code of the document, and the accounting line information for the transaction you are correcting. 11. You have successfully completed the Searching for Transactions Using the General Ledger Entry Screen tutorial. Page 25

32 12. Once you have the information from the original transaction, you may begin completing the General Error Correction edoc. Return to the Main Menu and click the General Error Correction link. Page 26

33 13. To minimize scrolling, click the collapse all button. 14. To open the Document Overview tab, click the show button. Page 27

34 15. Enter an appropriate description of the transaction. This description will appear in document searches. Enter "Move lab supplies for Grant ABC" in the Description: field. 16. Although it is not a system-required field, UMD is requiring the Explanation field to be entered as a further explanation of why the GEC is being entered. Note: The field has a maximum of 70 characters. Enter "Project lab supplies were incorrectly posted to UMD Depart One 7/2013." in the Explanation: field. 17. Enter your predefined department and sequential log number. Enter "CMPS333" in the Organization Document Number: field. 18. To close the Document Overview tab, click the hide button. 19. To open the Accounting Lines tab, click the show button. Page 28

35 20. The From section of the transaction represents a decrease in income (revenue) or expense. The Accounting Line information should match the Accounting Line information from the transaction that you are correcting. 21. In the From Section, click the Chart drop-down arrow button. Page 29

36 22. Select the appropriate Chart Code. Select 01 from the drop-down menu. 23. Enter an appropriate Account. Enter " " in the Account field. Note: For training purposes you will be using a ledger one account for this example. 24. Enter an appropriate Object Code. Enter "3916" in the Object field. Page 30

37 25. Enter the Amount you are moving. Enter "200.00" in the Amount field. 26. The Reference Origin Code describes the source system of the transaction that is being corrected. Enter "01" in the Reference Origin Code field. 27. Enter the Document Number of the transaction that is being corrected. Enter "2221" in the Reference Number field. Page 31

38 28. Enter an appropriate Line Description. Enter "Project supplies to " in the Line Description field. Page 32

39 29. This document allows multiple lines in the From and To section. This example is only using one line in each section. Click the add button. 30. The To section of the transaction represents an increase in income (revenue) or expense. Make your corrections in the To Accounting Lines. In this example, the wrong account was used for Project Supplies. 31. In the To section, click the Chart drop-down arrow button. 32. Select the appropriate Chart Code. Select 01 from the drop-down menu. 33. Enter " " in the Account field. Note: For training purposes you will be using a ledger one account for this example. Page 33

40 34. Enter an appropriate Object Code. Enter "3914" in the Object field. 35. Enter the Amount you want to move. The total amount(s) entered in the From accounting lines should equal the total amount(s) entered in the To accounting lines. Enter "200.00" in the Amount field. 36. The Reference Origin Code describes the source system of the transaction that is being corrected. Note: The Reference Origin Code is used to enter the origination code from the original document that the correction is for. Enter "01" in the Reference Origin Code field. 37. Enter the Document Number of the transaction that is being corrected. Enter "2221" in the Reference Number field. Page 34

41 38. Enter an appropriate Line Description. Enter "Project Lab supplies from " in the Line Description field. Page 35

42 39. Click the add button. 40. To close the Accounting Lines tab, click the hide button. 41. Click the submit button once you have completed all the required fields on this edoc. Note: Be sure you receive a "Document was successfully submitted" message at the top of the page. Page 36

43 42. You have successfully completed the Reclassifications of Income or Expense for Sponsored Accounts using the General Error Correction tutorial. End of Procedure. Page 37

44 Mandatory and Non-Mandatory Transfers using the Transfer of Funds edoc Procedure In this tutorial, you will learn to use the Transfer of Funds edoc. This document is used to transfer funds between accounts. Navigation: Main Menu > Transaction > Financial Processing > Transfer of Funds 1. Click the Transfer of Funds link on the Main Menu. 2. To minimize scrolling and tab details click the collapse all button. 3. To open the Document Overview tab, click the show button. 4. Enter a description for the edoc you are creating into the Description field on the Document Overview tab. To learn more about completing the Document Overview tab view the Understanding the Document Overview Tab tutorial. 5. To close the Document Overview tab, click the hide button. Page 38

45 6. To open the Accounting Lines tab, click the show button. 7. The From section of the Accounting Lines tab represents a decrease in income (revenue), expense, asset or liability. Page 39

46 8. Click the Chart drop-down arrow button. 9. Select the "01" option from the drop-down menu. 10. Enter the appropriate Account Number. Enter " " in the Account field. 11. Enter the appropriate transfer Object Code. Note: You can only use Object Codes with an Object Sub-Type of TN (Non- Mandatory Transfer) or MT (Mandatory Transfer) on this edoc. These Object Codes generally begin with 99XX. For help using lookups, see the Using the Magnifying Glass and Wildcards to Conduct a Lookup tutorial. Enter "9926" in the Object field. 12. Enter the amount of the transfer. Enter " " in the Amount field. Page 40

47 13. Enter a description for the transaction. Enter "Transfer to to cover supplies" in the Line Description field. 14. Click the add button. 15. The To section of the Accounting Lines tab represents an increase in income (revenue), expense, asset or liability. Page 41

48 16. Click the Chart drop-down arrow button. 17. Select the appropriate Chart Code. Select the "01" option from the drop-down menu. 18. Enter the appropriate account. Enter " " in the Account field. Page 42

49 19. Enter the appropriate Object Code. Remember to use an Object Code with an Object Sub-Type of TN or MT. Enter "9926" in the Object field. 20. The total entered in the Amount field here must equal the total in the From Accounting Line. You can enter multiple lines if needed. In this case, however, you're using only one From account and one To account. Enter " " in the Amount field. Page 43

50 21. Enter the appropriate description. Enter "transfer from to cover supplies" in the Line Description field. 22. Click the add button. Page 44

51 23. To close the Accounting Lines tab, click the hide button. Page 45

52 24. Click the Submit button once you have completed all the required fields on this edoc. Note: Be sure you receive a "Document was successfully submitted" message at the top of the page. 25. You have successfully completed the Transfer of Funds edoc. End of Procedure. Page 46

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54 A journal entry is a non-cash transfer of dollars between two or more accounts. A journal entry can be used to allocate charges, transfer funds or correct account number or object code errors. The table below outlines the forms currently used to create a journal entry in FRS and the KFS Financial Processing (FP) Documents that will replace them. FRS FRS DESCRIPTION KFS FP DOCUMENT EGW Other than Compound JV This form is used by central administration on a rare basis when accounts or sub codes that have been pre-edited to not allow transactions need to be affected. Journal Voucher, Auxiliary Voucher Intercampus JV JV Compound JV Other than Compound Non-Payroll Transfer Used for entries affecting accounts on different campuses, an on-campus account and an offcampus account. The total debits must equal the total credits for the entire form. Used for entries where multiple account transactions are taking place. The total debits must equal the total credits for the entire form. Used for two sided entries where each line is self-balancing (where Debit = Credit). Used for mandatory and non-mandatory transfers. Used to record adjustments where each line is self balancing (DEBIT=CREDIT). Initially created for adjustments affecting restricted ledger 4 and 5 accounts. This form includes the original posting period where the Other than Compound JV and other JVs do not. Distribution of Income and Expense, Auxiliary Voucher, and General Error Correction Distribution of Income and Expense, Auxiliary Voucher, and General Error Correction Distribution of Income and Expense, Auxiliary Voucher, General Error Correction, and Transfer of Funds General Error Correction & Auxiliary Voucher Page 48

55 Users will choose a KFS FP Document depending on the business need and the type of object codes types that are being affected in the journal entry. The various KFS FP Documents that are available are listed below along with a description of the entry types that are allowed. KFS FP DOCUMENT Distribution of Income and Expense Distribution of Income and Expense General Error Correction General Error Correction Auxiliary Voucher Auxiliary Voucher Auxiliary Voucher Auxiliary Voucher Auxiliary Voucher Auxiliary Voucher Transfer of Funds TRANSFER or ADJUSTMENT TYPE Income to Income (Non Contract & Grant Accounts) Expense to Expense (Non Contract & Grant Accounts) Income to Income (required for Contract & Grant Accounts) Expense to Expense (required for Contract & Grant Accounts) Income to Expense Expense to Income Asset to Asset Liability to Liability Asset to Liability Liability to Asset Mandatory and Non-Mandatory Transfers Page 49