Kuali Financials is an enterprise financial system and consists of the following base and optional modules.
- Chart of Accounts: the set of tables that define the codes and coding structures within Kuali Financials, including attributes such as accounts, organizations, and object codes. The COA exists primarily to support and validate entries into the General Ledger (GL).
- Financial Transactions Processing: provides various documents for end users to create transactions in Kuali Financials.
- General Ledger (GL): contains all the financial transactions that are created via Kuali Financials documents, fed in from external systems or created during batch processing.
- Pre-Disbursement Processor: receives data from systems that need to make disbursements and outputs a data file that can be sent to a check writer or formatted and sent to a bank for Automated Clearing House (ACH) direct deposits.
- Vendor: allows users to create and maintain a Vendor table to track businesses or other entities your institution has done or plans to do business with.
- Accounts Receivable: used for billing non-student receivables. The module creates invoices, records payments, issues credit memos, tracks outstanding receivables, and maintains historical data regarding customer charges and payments. This module also includes functionality for managing invoicing activities related to Contracts & Grants.
- Capital Asset Management: The Capital Asset Management (CAM) module allows you to track purchased assets purchased, assets received as gifts, and assets that have been transferred or found. This module handles records for both capital and non-capital assets.
- Contracts & Grants: contains minimal tables for supporting Contracts & Grants. The Contracts & Grants (CG) module also includes support for managing invoicing activities related to Contracts & Grants. When this functionality is turned on, several additional menu options display. Additionally, the Agency, and Award and Customer documents have additional tabs and fields to collect information needed by Contracts & Grants Billing.
- Effort Certification: uses a batch process to automate the creation of effort certification reports (also referred to as effort reports). These reports certify the percentage of effort an employee worked on a particular project. After being fully approved, an effort certification report generates Salary Expense Transfer documents to align the Labor Ledger and General Ledger with the newly certified effort.
- Labor Distribution: manages the accounting aspects of compensation-related expenses such as salaries and benefits.
- Purchasing and Accounts Payable: allows users to request materials and services, generate and transmit purchase orders, and process invoices and credit memos received from vendors.