Division of Financial Services
Accounting
Moving to KFS changed some of our financial working processes. Two significant changes to current practices are described here:
In the legacy financial system, project and DUO (department use only) codes were used to track activity across accounts; for example, faculty activity, course budgets, special projects, facilities reporting, and the like.
In KFS, sub-accounts provide this functionality. The examples below compare the legacy practice of using DUO codes with the new KFS sub-account model to track individual faculty activity expenses.
| In the Legacy Financial System | In KFS |
|---|---|
| Expenses associated with Professor Smith are recorded as DUO 123 and used across multiple accounts. Expenses associated with Professor Jones are recorded as DUO 150 and used across multiple accounts. |
Expenses associated with Professor Smith are recorded as sub-account 12300 and used across multiple accounts. Expenses associated with Professor Jones are recorded as sub-account 15000 and used across multiple accounts. |
|
Split Expenses Between Accounts – Travel Example
|
|
| Professor Smith’s travel expenses are split between two accounts using his DUO code of 123. | Professor Smith's travel expenses are split between two accounts using sub-account 12300. |
|
Transaction Processed for Professor Smith |
Transaction Processed for Professor Smith |
|
Split Expenses Between Accounts – Salary Example
|
|
| Professors Smith and Jones hire a research technician, whose salary is split between their two research projects. | |
|
Research technician salary split between Professor Smith (DUO 123) and Professor Jones (DUO 150) |
Research technician salary split between Professor Smith (12300) and Professor Jones (15000) |
In the legacy financial system, colleges and units configure the fourth digit of the object code to enable additional reporting detail and further break down income and expense categories.
In KFS, sub-object codes provide this functionality. The following example compares the legacy practice of tracking a specific expense category using the fourth digit of an object code with the KFS model of using a sub-object code.
| In the Legacy Financial System | In KFS |
|---|---|
| A department wants to track copy costs that may include toner, paper, or external copy costs. | |
| The fourth digit of the object code was locally defined to distinguish expenses. A013300_666X_000_000
|
The sub-object code is also defined for local purposes, using up to three alphanumeric characters. D013300_-----_6640_XXX
|
