KFS is now open for Fiscal Year 2016 Processing. Happy New Fiscal Year! 

As you begin to look at balances on your accounts in KFS, please note the following: 

1. Although Fiscal Year 2016 is the default on balance inquiries, you have the option to change the date to Fiscal Year 2015 by typing over 2016. 

2. When looking at Fiscal Year 2015 balances on the “General Ledger Balance” inquiry, there is an additional period called “Year End.” This is where you will see any activity posted after June 30, 2015 that relates to Fiscal Year 2015. On the General Ledger Entry inquiry, you will see these transactions in Fiscal Period “13.”  

3. Fiscal Year 2016 Budget Balances are loaded for all 2-ledger, 3-ledger, and Fiscal 4-ledger accounts. (Sub-funds OPTUI, OPOTF, and OPAUX). Budgets for project accounts are scheduled to be updated tonight as pending entries (see #4 below). Processing for all accounts should continue as necessary. 

4. KFS has the ability to show the prior year balances carried over into the new fiscal year. Ending balances from Fiscal Year 2015, which are scheduled to be loaded tonight as pending entries, will be regularly updated into Fiscal Year 2016 until the final close in August.  

5. Encumbrances:

    a. New Fiscal Year 2016 external encumbrances (Purchase Orders) are in KFS.

    b. Prior Year external encumbrances that will be carried forward into Fiscal Year 2016 will be loaded the week of July 13, 2015.

    c. Fiscal Year 2016 payroll encumbrances are scheduled to be loaded within the next couple of days.

If you have any questions, please contact Annette Pavone at 486-2934.  

Annette Pavone, CPA

 

Subject: Changes to Equipment Purchases under $5,000

Beginning July 1, 2015, the object codes for equipment purchases under $5,000 will be changed.

• There are 2 new object codes::
  • 8306 Controllable Property Equip <$5,000
  • 8307 Non-Controllable Equipment <$5,000
• Controllable Property will include ALL computers (including desktops, laptops, and iPads), as well as all other equipment deemed by the individual department to be controllable due to its sensitive, portable, and theft-prone nature.
• Both object codes are eligible for Capital Equipment funding (770xxxx).
• These object codes are still for equipment purposes, NOT supplies; they should only be used on assets with lives greater than one year.
• The $1,000 threshold no longer applies (an $800 computer is coded the same as a $1,500 computer).

• The following object codes should no longer be used:
  • 6836 Computers <$1,000 –> use 8306
  • 6835 Furniture <$1,000 –> use 8307
  • 6837 Electronic Equip <$1,000 –> use 8306 or 8307
  • 8300 IT Equip/Hardware $1K – $5K –> use 8306 or 8307
  • 8305 General Equip $1K – $5K –>use 8307

• There are no changes to equipment purchases $5,000 and up.

Detailed information about the new policy and procedures for Controllable Property can be found in New Asset Tagging Procedures and Thresholds. Additional resources are available on the Inventory Control website. Please contact Inventory Control if you have any questions.

Annette Pavone, CPA
KFS Functional Coordinator & Accounting Manager
Accounting Office
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone: (860) 486-2934
Fax: (860) 486-0570

For Kuali Project Information please visit www.financesystems.uconn.edu

To All KFS Users:

In preparation for the close of fiscal year 2015 and the opening of fiscal year 2016 in KFS, please make note of the following:

1. KFS will be shut down at 5:00 pm on Tuesday, June 30^th.

2. KFS will be available Wednesday morning, July 1^st for fiscal year 2016 processing.

3. eDocs that were routed to the central processing offices (Accounting, Accounts Payable, etc.) by the deadlines specified in the Controller Memo will be posted to fiscal year 2015, as well as any eDocs that missed these deadlines to the extent time permits. Fiscal year 2015 eDocs not finalized before June 30^th will be rolled over and posted in fiscal year 2016 when finalized.

4. Certain eDocs submitted after June 30 will be posted back to fiscal year 2015 by central offices, and you will notice these being reflected in fiscal year 2015. If you have an eDoc that you believe should be posted to fiscal year 2015, (for example, to clean up a deficit account), please specify this on the Notes & Attachments Tab before you submit it.

If you have any questions, please contact Robin Hoagland (486-3780) or Annette Pavone (486-2934).

Annette Pavone, CPA
KFS Functional Coordinator & Accounting Manager
Accounting Office
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone: (860) 486-2934
Fax: (860) 486-0570

 

 

To All KFS Users:

As you know, the end of fiscal year 2015 is quickly approaching. For an orderly close of KFS, there is a need for all FY15 KFS eDocs to be finalized before the end of June. There are eDocs in KFS that have a status of “enroute” – some of these are several months old.  A document that is “enroute” is waiting for approval by someone. Every KFS User is being asked to do the following:

1. Check your Action List regularly, and look in the “Action Requested” column for items that say “Approve.” Open up each eDoc, and approve or disapprove it as appropriate. Once you take the action requested, the eDoc will disappear from your Action List, and move on to the next approver or to Final  or Processed status. For more information about managing your Action List, and for details on other Route Statuses and other Actions Requested, please see KFS FAQ’s  (Action List) and the Action List Tutorial Video.

2. We also ask that you find eDocs that you have initiated that are still enroute, and have not yet routed to a central department such as Accounts Payable or Accounting.  (Many of you do not initiate eDocs so this does not apply.)  For these eDocs, look at the route log to see whose action list it is in, and contact that person to remind them to take action on the eDoc.

3. To find your enroute eDocs:

a.  Click on the “doc search” button
b.  Click on the “detailed search” button
c.  Enter your netid in the Initiator box
d.  In the Route Status box, choose “ENROUTE”
e.  Optional: Name this search by entering “My enroute eDocs,” for example, in the “Name this search” box. To easily re-
create this search in the future, use the Searches dropdown list.
f.  Click “search”
g.  To see the route log on an eDoc:

1.   Open up the eDoc and go to the Route Log tab, or
2.  Click on the “Route Log” icon in the far right column. This will open up only the route log.

h.  In the Pending Action Requests area, look for “IN ACTION LIST APPROVE” – this is where the eDoc is currently waiting for action. If it is a group, you can click on the group name to see the individual members in this group.

If you are unable to approve an eDoc that it is your action list, or if you encounter any other issues, please go to http://financesystems.uconn.edu/  and click on “Help & Support.”  Please provide the eDoc number, and a description of the error that you are receiving.

We thank you in advance for your cooperation.

Annette Pavone, CPA
KFS Functional Coordinator & Accounting Manager
Accounting Office
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone: (860) 486-2934
Fax: (860) 486-0570

Are you a KFS Fiscal Officer? Are you planning a summer vacation? Unless you want to approve eDocs while on the beach, please make sure you have a delegate set up to approve eDocs before you leave. A delegation “Up” is recommended (your supervisor) whenever possible. The FO remains responsible for all activity in the account. See FAQs ~ Delegations at financesystems.uconn.edu in the Training and Development area for many questions and answers on delegations.