New Object Consolidations for Enhanced KFS Reporting

Sent to KFS-Update mailing list on February 3, 2015

The Kuali Financial System team is implementing several new object consolidations to make KFS reporting more versatile, particularly when creating Principal Investigator (PI) reports. The new consolidations can already be seen in KFS and Decision Support reports. They will be available in PI Reports and all other systems on Wednesday, February 4.

In the past, the General Expenses (GENX) object consolidation included too many object codes to be useful for many types of KFS reports. To solve this problem, the old GENX consolidation will be divided into five new consolidations. The table below lists the new object consolidations and corresponding budget object codes.

Object Consolidation Name Budget Object Code
SUPL (New)
SUPPLIES AND MATERIALS 0003
TRVL (New) TRAVEL 0005
GENX (Revised) GENERAL EXPENSES 0007
SUBA (New)
SUB AWARDS 0017
STAD (New) STUDENT AID

0027

To facilitate this change, budget object code 0003 will map to the new Supplies and Materials (SUPL) consolidation. The Supplies and Materials consolidation is intended to include expenses for items that are consumable. The revised GENX consolidation is intended to include services and other non-consumable expenses and requires use of a new budget object code, 0007.

This spreadsheet lists object codes that will be reassigned to the new Supplies and Materials, Travel, Sub Awards, and Student Aid consolidations. Also available is this tool for identifying object codes by consolidation, which may be useful to verify data on revised PI Reports.

Departments should take the following steps to begin using the new object consolidations and related budget object codes.

  • Review current budgets to determine if rebudgeting using the new budget object codes will be needed and process budget adjustments as appropriate.
  • Beginning on Wednesday, run and review PI reports for the current period and provide new reports to appropriate faculty and staff.
  • If your unit has produced previous reports from KFS, Decision Support, PI Reports, or others that use object consolidations/levels or runs cumulative reports based on periodic downloads of transactional data, it is advisable to re-run all downloads as of February 4, 2015.

If you have questions or need help, please contact kfs@uci.edu or 949-824-7001.

Changes to How KFS Transactional Data is Displayed in Decision Support (DS)

Several important changes were also implemented effective February 1 that impact KFS transactional data in Decision Support (DS). Users may need to re-run prior period reports for accuracy. Please continue reading for details.

Income actuals now display as positive in the Ledger Actuals field

The most significant impact is to the +/- sign for Income Actuals (also impacted are fund balance and liability actuals). The update is to correct an inconsistency in the display of budget versus actual values. Previously, income Actuals in DS transaction reports were showing with a negative (credit) sign; however, income Budget was showing as positive. If one were to look up the same ledger entry lines in KFS, both income and expense show as positive, but with a separate Debit/Credit column showing D or C. To be consistent with KFS, the Ledger Actuals field in the DS reports listed at the bottom of this message are being updated to show both expense and income Actual amounts as positive values when normal, and will only show as negative when the transaction is being reversed or refunded.

When downloading Budget, Actual, and Encumbrance data to Excel from either KFS or Decision Support, it is important to keep income and expenses separate. If you accidentally sum across income and expenses accounting categories, instead of calculating the net difference, you might misinterpret an account balance. To validate balances, it’s advisable to check against the KFS Balances by Consolidation, DS Account Summary, or DS Fund Summary. Note that the KFS Balances by Consolidation lookup only displays the current balance as of last night. To see prior period balances, refer to DS reports for validation.

New Ledger Amount field available Wednesday, February 4

For those that download transactional data to build your own reports in Excel, an additional field is being added to all transactional reports that allows for summation across accounting categories. The field is labeled Ledger Amount and is expected to be available on DS reports as of Wednesday, February 4. It combines Budget, Actuals, and Encumbrances into a single column. You may recall that a similar field (Transaction Amount) was available in data warehouse. For Actuals, all Debit transactions will show as positive and all Credit transactions as negative (e.g. expense actuals and encumbrances will normally be positive and income will normally be negative). Expense Budget will show as negative, and income Budget will show as positive. All accounting categories will be signed relative to one another, enabling summation across accounting categories to determine the bottom line of an account. To find this new field for download, be sure to click on the Maximum Columns button.

If your unit runs cumulative reports based on periodic downloads of transactional data, it is advisable to re-run all prior downloads to ensure your data is signed correctly. You may also want to consider adding the new Ledger Amount field to your downloads.

Reports Impacted:

General Ledger - Campus Reports

  • Account Transaction – Income and Expense (FS0100-Detail General Ledger)

General Ledger Ad Hoc templates

  • Account GL Detail Adhoc Report

General Ledger – Central Reports

  • Object Transaction Detail-Balance Sheet and Income
  • Object Transaction-Pivot by Ledger Detail Fields (FS0105/106)

If you have questions or need help, please contact kfs@uci.edu or 949-824-7001.

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