The Account number is part of the Accounting String and is used to manage transactions and activity associated with a particular source of funds
The Account document is used to create and edit accounts that are used to record activity into the general ledger. The Account document creates or updates one account at a time. The Account Global document can be used to update several accounts at a time when an attribute, such as, Fiscal Officer is changing on multiple accounts.
Account Maintenance tab
The Account Maintenance tab is used to define the account attributes which are used in validating the business rules for transactions using the account, or for reporting options, approval routing, etc. Fields requiring additional information are described below.
- Chart Code: If the parameter ACCOUNTS_CAN_CROSS_CHARTS_IND parameter is set to N then the system will derive the chart code automatically and this field will be read-only. If... parameters
- Account Number: Unique number that identifies a pool of funds. Account numbers prefixes can be restricted by editing the parameter PREFIXES. For example, you can configure this parameter to prevent account numbers from beginning with 3 or 00. If parameter ACCOUNTS_CAN_CROSS_CHARTS_IND = N, the account cannot be used on different charts, if set to Y, the same number can be used on different charts.
- Organization Code: The Organization code identfies the unit (department, college, etc.) that owns the account. The organization associated with the account will drive Organization Review routing. The Responsibility Center Code and Responsibility Center Name are read-only fields and will populate according to the Organization code selected.
- Campus Code: Identifies the physical campus where the account is located or check the Account Off Campus Indicator check box if the account activities occur off-campus. In addition, the account's physical address is required including Street Address, City, State, and Postal Code.
- Account Effective Date: The date when the account becomes effective.
- Account Expiration Date: The date the accounts is expired. Business rules on transactions may prevent the use of expired accounts, or provide warnings when an expired account is being used. This date must be equal to or greater than the current date unless back dating is allowed by the EXPIRATION_BACKDATING_FUNDS parameter. However, it cannot be before the Account Effective Date. If an Account Expiration Date is entered, continuation account information in the Account Responsibility section is required.
- Closed: indicates if the account is closed. Transactions cannot post to a closed account and a closed account can only be re-opened by a person with permission Edit Inactive Account. In order to close an account there cannot be any outstanding balances or encumbrance, refer to Closing an Account for details.
- Account Type Code: categorizes the account for reporting purposes. Values can be created and maintained using the Account Type Code table.
- Account Fringe Benefit: indicates whether or not the account accepts fringe benefits. If the account does not (box is not checked), a valid Fringe Benefit Chart of Accounts Code and Fringe Benefit Account Number must be entered to indicate where fringe benefits should post when fringe benefits are calculated by the Salary Expense Transfer or LaborScrubberJob.
- Higher Education Fund Code: Classifies the purpose and activities of an account such as instruction, research, or public outreach. The Higher Education Fund consists of the following attributes that can be used for reporting:
- University Budget Office Function Code
- AICPA Function Code
- Federal Function Code
- Source of Funds Code: Identifies the primary funding source for the account for reporting purposes. This code will only display when parameter SOURCE_OF_FUNDS_IND is Y.
- Account Restricted Status Code: Indicates if there are any restrictions on the account. Restricted Status Codes are maintained using the Restricted Status table. If the sub fund associated with the account has a restricted status code, then this field will default with the value specified on the sub fund and cannot be changed. If the restricted status code on the sub fund is blank, then users must select an appropriate value. The Account Restricted Statue Date defines when the funds become unrestricted and this field is informational only.
- Endowment Chart of Accounts Code and Account: If the account is connected with an Endowment Account (for example, interest income) the Endownment Chart and Account can be associated with the account for reporting purposes.
- Labor Benefit Rate Category Code: Benefits can be calculated on either the salary object or Labor Benefit Rate Category Codes can be assigned to accounts, if the account should have a different rate. Parameter ENABLE_FRINGE_BENEFIT_CALC_BY_BENEFIT_RATE_CATEGORY needs to be set to Y. For more information refer to Setting up Labor Distribution to calculate benefits. The following parameters can be used to define defaults for this field:
ACCOUNT_TYPE_BENEFIT_RATE: Benefit Rate Category Code that will default on the Account document based on the Account Type.
BENEFIT_RATE: Benefit Rate Category Code that will default on the Account document. The default is used when the ACCOUNT_TYPE_BENEFIT_RATE does not apply to an account.
Account Responsibility tab
The Account Responsibility tab is used to define the users responsible for the account, setup the continuation account information, and set the Sufficient Funds parameters, if applicable. Fiscal Officer, Account Supervisor and Account Manager users must be P (Professional) and the Employee Status must be A (Active).
Guidelines and Purpose
The Guidelines and Purpose tab is used to provide additional details relating to the type of expenses that should be charged to the account, the source of its income, and the account's overall purpose. All three fields are required for setting up new accounts unless stated otherwise.
- Fiscal Officer Principal Name: Identifies the individual responsible for the fiscal management of the account and is used for routing. If the Fiscal Officer is changed, once the document is final or processed, enroute documents whose accounting line contains the account(s) being updated will requeue and pick up the new Fiscal Officer.
- Account Supervisor Principal Name: Oversees the management of the account at a higher-level than the fiscal officer, but rarely receives any direct requests for action from Kuali Financials. The account supervisor cannot be the same as the fiscal officer or the account manager.
- Account Manager Principal Name: Responsible for spending funds according to the goals, objectives and mission of the organization; ensuring that the funds are spent according to a budgeted plan and allocation of expenditures is appropriate to the function of the account.
- Continuation Chart of Account Code and Account Number: If the account has an expiration the continuation account is required so that this account can accept transactions that are processed on the account after the expiration date.
- Income Stream Chart of Accounts Code and Account Number: If the account should generate offset entries in order to balance responsibility center activity. Parameters INCOME_STREAM_FUNDS and INCOME_STREAM_SUB_FUNDS control whether or not these fields are required.
- Budget Record Level Code: Identifies at what level an account is budgeted. Accounts with N-No Budget are used by the Current Account Balances to identify Cash Accounts; other than this, there is no functionality around this code.
- A - Account
- C - Consolidation
- L - Level
- M - Mixed
- N - No Budget
- O - Object Code
- S - Sub-Account
- Account Sufficient Funds Code: Identifies if, and at what level the account will be checked for sufficient funds. For more information refer to SF Checking - Financial Processing Documents.
- A - Account
- C - Consolidation
- H - Cash
- L - Level
- N - No Checking
- O - Object Code
- Transaction Processing Sufficient Funds Check: Indicates if sufficient funds checking is required on the account.
- Object Presence Control Indicator: Identifies if an account is budgeted by object code. If checked a warning will be presented when the account and object code are used on a document and the object code does not have sufficient budget to cover the transaction. The warning can be overridden and Organization Review Routing can be set up if someone overrides the budget.
The Account Description tab contains physical location information of the account. If the account's sub-fund group code is defined in the parameter CAPITAL_ASSET_SUB_FUNDS, the Building Campus Code and the Building Code are required. Typically used for construction projects.
Contracts & Grants
The Contracts & Grants tab is only required if the account is a Contracts & Grants account. These fields define how the account will be used to generate and distribute indirect costs. This tab can also be used to setup a control account and the CFDA number field which categorizes grants for audit purposes and the CG Responsibility ID which defines the accounts routing.
- If the account's Fund Group or Sub-Fund Group is defined in the parameters, CG_FUND_IND and CG_VALUE then the Account Indirect Cost Recovery Type Code and Indirect Cost Rate are required. The rate selected will define the cost recovery rate relative to direct costs spent in a fiscal year to cover the cost of indirect expenses such as light, heat, central administration, etc. Even though these real costs are not directly allocated to any particular sponsored project, the system will use this rate to calculate indirect costs for the sponsored project.
- Contract Control Chart of Accounts Code and Account Number: identifies the primary spending authority account for a contract that has been assigned multiple accounts in the system. This is the account that is used for reporting because it best represents the project and its corresponding expenditures and revenues. An account can be referenced as its own control account. The Contract Control account links related accounts together and is used by Contracts & Grants Billing when invoicing by award or contract control account.
- CFDA Number: Code of Federal Domestic Assistance number, is optional and is used to identify accounts for a Federal A-123 audit.
- CG Account Responsibility ID: Identifies the CG processing team who will receive workflow requests for various documents using this account. This field is used to qualify the Contracts & Grants Processor role, role 39. Parameter CG_RESPONSIBILITY_ID defines the upper range for this field.
Indirect Cost Recovery Accounts
The Indirect Cost Recovery Accounts tab can only be completed if the account's Fund Group or Sub-Fund Group is defined in the parameters, CG_FUND_IND and CG_VALUE. This tab specifies the account or accounts that will receive indirect cost recovery income and the percentage that will be distributed to each account. Multiple accounts can be added to split the ICR income and the percent must total 100.
- Fiscal officer or delegate for the account defined on the document. If the document is changing the value of the Fiscal Officer field, then the document routes to both Fiscal Officers.
- Optionally routes to Organization Reviewer based on the organization assigned to the account.
- If the account is a Contract and Grants account, the document will route to the Contracts & Grants Processor role, role 39, based on the CG Responsibility ID assigned to the account.
- The Chart Manager and University Chart Manager for final approval.
- The Account Supervisor will receive an FYI request.
The Account Global document is used to assign identical attributes to multiple accounts.
Global Account Maintenance
The Global Account Maintenance tab works the same as the Account Maintenance tab of the Account document except that it contains only the fields that can be modified globally. There are no required fields. Complete the fields that should be updated on the accounts. If an account attribute is to remain as is, leave that field blank.
The List of Accounts section is used to add the accounts that need to be updated. Accounts can be added one at a time or you can use the Look Up / Add Multiple Account Lines to select and return several accounts at a time.
The Account Global document routes to the Chart Manager for the chart assigned to the accounts being modified, and then to the University Chart Manager.
If the Fiscal Officer is changed, once the document is final or processed, enroute documents whose accounting line contains the account(s) being updated will requeue and pick up the new Fiscal Officer.