Kuali Financials relies on a variety of Chart of Accounts (COA) tables to function. These tables define the attributes and values used by the system to validate transactions. They also control the often complex relationships between elements in the Chart of Accounts that must be leveraged for internal and external reporting. For example, tables store basic information such as the sub-fund groups to which new accounts may be assigned and the calendar month that correlates to the first month of your institution's fiscal year. This type of flexibility is one of the features that make Financials a highly configurable application.
Kuali Financials provides for various fields available for institutional reporting. You can, for example, define a top level chart that consolidates activity for reporting purpose. After the top level chart is defined, the Statement of Net Assets and Statement of Revenues, Expenses and Changes in Net Assets can be designed, using Reports To chart and object code and the sub-totals by the object code levels and consolidations on the top chart. Or, you may design responsibility center reports using the organization roll-up of accounts. For more information about the capabilities of the organization within the Chart of Accounts, refer to Organization and Organization Type.