csu kuali days
DESCRIPTION
CSU Kuali Days. Welcome to CSU Kuali Days! Overview Session for: Financial Transactions – Journal Entries April-May, 2009. Financial Transactions – Journal Entries. Training Team Members Valerie Monahan, Business & Financial Services 1-3001 Richard Batman, Sponsored Programs 1-4637 - PowerPoint PPT PresentationTRANSCRIPT
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CSU Kuali Days
Welcome to CSU Kuali Days!
Overview Session for:
Financial Transactions – Journal Entries
April-May, 2009
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Financial Transactions – Journal Entries
Training Team Members• Valerie Monahan, Business & Financial Services 1-3001• Richard Batman, Sponsored Programs 1-4637• Sheri Hofeling, Mathematics 1-7047• David Mornes, CVMBS 1-6098• Malinda Sloan, College of Applied Human Sciences 1-6365• Sally Tschirhart, Business & Financial Services 1-2423
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Accessing the Kuali Financial System
• A link to the test site of KFS is provided on the B&FS website.
• Effective July 1, 2009 access to KFS will be through the Campus Administrative Portal at https://cap.is.colostate.edu
• Log in using your eID (name)
• Log out using the X
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Important Reminders
• KFS goes live on July 1st for FY 2010
• Training materials are available at http://kuali.colostate.edu and http://busfin.colostate.edu
• Virtual Kuali Help Desks can be accessed by going to the CAP at https://cap.is.colostate.edu OR by clicking on the “Provide Feedback” found on most Kuali screens
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Important Reminders (cont.)
• Please contact any training team member for assistance regarding this session
• Registration for current Kuali training sessions is open until filled or completed
• Hands-on training labs are scheduled June 1st - 5th and June 8th – 12th (additional information will be provided soon)
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Evaluations
Please complete the evaluation survey
- drop off in the session evaluation box or
- with your training team member for this session or
- return to Valerie Monahan: 6003 Campus Delivery
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Documents Covered in this Overview
• General Error Correction (formerly CJE)• Adjustment/Accrual Voucher• Pre-Encumbrance (new)• Distribution of Income and Expense
* Note: Transfer of Funds and Indirect Cost Adjustment will be covered briefly today.
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Terminology• Financial Records System Term Kuali Financial System Term• No equivalent FRS code Chart code (CO)• General Ledger (GL) Acct
(022376) Account (2237600)• Sub Ledger (SL) Acct
(223760)
• Account Control (GL)(1437, 2020) Object Code (1437,2020)
• Subcode (SL) (4380,6600)
(0600, 4000)
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Object Code Structures
Object Code
Type Normal Balance
Objects commonly used
1XXX Asset Debit Cash (1101)
2XXX Liability Credit A/P Liability (2100)
4XXX Revenue Credit Various Revenue Codes (4380)
5XXX – 9XXX
Expense Debit General Supplies (6201)General Services (6601)
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To/From-The Basics
INCREASE any account/classification (TO)
DECREASE any account/classification (FROM)
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To/FromAssets: Increase an Asset (debit) (To)
Decrease an Asset (credit) (From)Liabilities:
Increase a Liability (credit) (To)Decrease a Liability (debit) (From)
Revenues:Increase revenue (credit) (To)Decrease revenue (debit) (From)
Expenses:Increase an Expense (debit) (To) Decrease an Expense (credit) (From)
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To/From Examples
Example:An expense was incorrectly charged to the wrong expense object code. Increase expense to the correct object code (To)Decrease expense from the wrong object code (From)Example:Expensed a service contract that covered 12 months. Six months of the contract should be prepaid (asset) Increase an asset (To)Decrease an expense (From)
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To/FromExamples
Example:Receipts from customers were deposited into an expense object code and should have been recorded as revenue.
Increase revenue (To)Increase expense (To) – removing credits from an expense object code
Example:A revenue item was incorrectly deposited into the wrong revenue object code. Increase revenue to the correct object code (To)Decrease revenue from the wrong object code (From)
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General Error Correction
• Formerly known as CJE in CIS• Used to correct a posting error (wrong account number ,
wrong amount was used etc.)• Org. Doc. # - (Org=organization’s) optional user-defined
document number, 8 characters.• Reference Origin Code – where did the document originate
from- 01 will be used most of the time- still in development• Org. Ref ID – (Org=organization’s)- similar to Ref 2 in FRS• Reference # - Can only be alpha or numeric-no spaces or
periods (8 characters) similar to Ref 1 in FRS• Example #1
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Adjustment/Accrual Voucher
• Adjustment voucher- to recognize revenues in the period in which they are earned and expenses in the period they are incurred. No reversal date.
• Example #2
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Adjustment/Accrual Voucher(cont.)
• Accrual voucher – to post an accrual entry that will reverse in a designated month.
• Example #3
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Pre-Encumbrance
• New in Kuali• Earmark funds for which unofficial
commitments have already been made• Set aside future expenses that might not
already be encumbered• All pre-encumbrances need to be
disencumbered via reversal or manual• Example #4
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Disencumbrance
• New in Kuali• Reference # required- use the Kuali # for the
encumbrance
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Distribution of Income and Expense
• Use the DI document to distribute income, expense, assets or liabilities from a holding account to one or more appropriate account(s) when one account has incurred expenses or received income on behalf of one or more other accounts
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Distribution of Income and Expense (cont.)
• Importing lines• templates and instructions are available by clicking on
the “?” on each document and choosing the Accounting Line Import Templates
• Remove the first two rows• Must be saved in CSV format• Click on “add” to import into the document
• Example #5
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Transfer of Funds
• The Transfer of Funds (TF) document is used to transfer funds (cash) between accounts
• There are two kinds of transfer transactions, mandatory and non-mandatory
• Mandatory transfers are required to meet contractual agreements. Specific object codes are used to identify these transactions
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Transfer of Fundscont’d
• Non-mandatory transfers are allocations of unrestricted cash between fund groups, which are not required by any external agreements
• Use of this document is primarily used by B&FS and is in development with respect to plant fund transfers
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Indirect Cost Adjustment (ICA)
• Used to adjust the amount of indirect cost expense charged to a contract and grant account and automatically adjust the associated amount of indirect cost revenue
• Used by SP & B&FS only
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QUESTIONS???