KFS General Error Correction and Distribution of Income and Expense A Procedural Guide for Kuali Financial Systems edocs Office of the Controller

Transcription

1 KFS General Error Correction and Distribution of Income and Expense A Procedural Guide for Kuali Financial Systems edocs Office of the Controller 2016

2 Table of Contents edoc / Process Page General Error Correction (GEC) 3 Distribution of Income and Expense (DI) 6 Importing Accounting Lines 8 Help / Contacts 14 To/From vs. Debit/Credit 15 2

3 General Error Correction (GEC) Used to correct a posting error (wrong account number, wrong object code, wrong amount was used etc.) Only used for corrections of actual balances for revenues and expenses Cannot be used to correct: Budget Adjustments (Use another BA, or use the Error Correction button) Salary Expense Transfer (Use another ST) Transfer of Funds / Cash (Use another TF, or use the Error Correction button) Should I do a GEC or use the Error Correction button? Certain Financial Processing edocs (DI, GEC, BA, SSBA, TF) will display an error correction button at the bottom of the edoc once it is in Final status. If an entire edoc is incorrect, use this button to create a new edoc which is a complete reversal of the original. Do this instead of using a GEC. 3

4 Go to: Transactions ~ Financial Processing ~ General Error Correction Enter a Description This description appears in the action list of the approver, in edoc searches, and often in the transaction detail. 4

5 Enter Chart (UC), Account Number, Object, Amount Enter: Reference Origin Code 01, or if correcting an Internal Billing, a Service Billing or a Collector Feed, use code BC Reference Number (edoc # where error occurred) Line Description. Click add. Repeat for the 2 nd line. Other / Optional Tabs If correcting an entry involving a capital asset, you must complete the Capital Asset tabs (Accounting Lines for Capitalization, and either Create Capital Assets or Modify Capital Assets. The asset number can usually be found on the Purchase Order Notes and Attachments tab. Need help? Use the New Capital Asset Tabs Guide, or contact Inventory Control. 5

6 Distribution of Income and Expense (DI) Used when moving expenses or revenue from one or many account(s) to one or many other account(s) Usually used only when either expense on both sides or revenue on both sides (allocation of postage, copier charges) If one department is providing goods/services to another department (revenue on one side and expense on the other), use the Internal Billing (IB)or Service Billing (SB) edoc If moving revenue accumulated on an Internal Billing (IB) or a Service Billing (SB), please use a General Error Correction (GEC) with Reference Origin Code BC. Can import multiple lines via CSV file format (see page 8) Go to: Transactions ~ Financial Processing ~ Distribution of Income and Expense There must be an actual amount in the FROM side balance to move. Use the balance inquiries to check the account, subaccount, object code, etc. (You can t move something that isn t there!) 6

7 On the Document Overview tab: Enter a Description. On the Accounting Lines tab: Enter the Chart, Account Number, Object, and Amount for both sides. Sub-Account, Sub-Object, Project, Org Ref ID are optional. Click Add. Use the Notes and Attachments tab for backup and/or original edoc numbers. Remember to click Add to enter each of the Accounting Lines. Large entries containing several Accounting Lines can be imported instead of manually entered. See page 8 Click submit. 7

8 Importing Accounting Lines Accounting Lines can be imported directly into any edoc with Accounting Lines Spreadsheet must be saved as a csv file If an import is done on both the income and expense sides, then each must have its own import file You may want to save frequently used templates on your desktop for easy access. On the Accounting Lines tab, click on the Question Mark 8

9 Locate the right template for the edoc. Many edocs use the same Standard Import template. 9

10 Enter the Accounting Lines. The columns with red headings are required. Be sure that the Amount column contains no commas. Change the format to General in that column to remove them. Delete the first three lines of text, and save as a csv file (Save as type ~ CSV Comma Delimited) 10

11 Click Yes for each of the prompts 11

12 On the edoc Accounting Lines tab, click import lines then Choose File 12

13 Find your csv import file, click Open ~ then click the Add button next to the file name Your Accounting Lines are now in your edoc! 13

14 Questions? Use the help menu function from within edocs by clicking on the question mark Topic Name Department Phone DI/GEC Stacy Russolino Accounting DI/GEC Haili Li Lin Accounting DI/GEC Annette Pavone Accounting DI/GEC for Capital Assets Shayna Beckwith Inventory Control For Frequently Asked Questions about any of the edocs in this procedure guide, see KFS FAQs: KFS Tips and FAQs 14

15 To/From vs. Debit/Credit For GEC and DI edocs Assets 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) Last Updated 2/9/