Accounts in KFS

An account identifies a pool of funds assigned to a specific organizational entity for a specific purpose. Accounts are the fundamental building blocks of KFS transactions, since one or more of them are always associated with a transaction.

Account Types

Account type is an attribute of an account that categorizes (or groups) it along with other accounts for reporting purposes. KFS uses the following types:

Account Type Code Account Type Name
CA Control Account
CF Current Funds
LN Loans
PL Plant
RI Retirement of Indebtedness
RR Renewal and Replacement
RS Request to Approve Spending (RAS)
UN Unassigned
UP Unexpended Plant

Control Account

A Control Account is a KFS Account that represents a Fund. Control Accounts have a numbering convention that uses the letters "UC" followed by the fund number. The Account Type for Control Accounts is "CA".

A Control Account has specific rules and restrictions on what can be recorded on it. For example, expenses cannot be recorded on a Control Account.

All KFS Accounts have a Control Account associated with them.

  • Control Account: UC29172
    • Account: FG12345
    • Account: FG12346

Account Document and Account Global Document

The Account Maintenance Document is a KFS Document that allows users to copy or edit an existing Account. Go to the Account e-Document page for more information what each field in the Account Document means. In addition to the Account Document, there is a Account Global document, which is used to assign identical attributes to multiple accounts on a single document.

Higher Education Function Code

An account's Higher Education Function Code is a Standardized reporting classifications for higher education as defined by the National Association of College and University Business Officials (NACUBO). In the Kuali Financial System, a 4-digit code assigned to each account to define the overall purpose of the account. The 4-digit code is driven by the first 2 digits of the UC Account number. Example: INSP = Institutional Support (72). Below is a table of the Higher Education Codes and their relationship to UC Accounts.