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Author Archives: Lan Guglietta

10/13/2017 – Furlough Payroll Reductions

Sent on behalf of the Office of Budget and Planning 

To all KFS Users:

Some of the furlough payroll reductions have doubled or tripled in KFS. This impacts accounts for about 400 employees who had multiple types of pay (regular, overtime, shift differential, moving expenses, etc).  The KFS furlough reduction was taken from each object code, instead of just once out of the regular salary object code.

This is only a KFS issue – there is no impact on the employee paycheck.

The fix should be in for the next cycle and the corrections for the previous cycles are currently being processed. 

Please contact Kelly Wihbey at 486-0532 if you have any questions or concerns.

 

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

 

7/3/2017 – Kuali Financial System is open for Fiscal Year 2018

KFS is now open for Fiscal Year 2018 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 2018 is the default on balance inquiries, you have the option to change the date to Fiscal Year 2017 by typing over 2018.

 

  1. When looking at Fiscal Year 2017 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, 2017 that relates to Fiscal Year 2017. On the General Ledger Entry inquiry, you will see these transactions in Fiscal Period “13.”

 

  1. Fiscal Year 2018 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 overnight on July 3rd as pending entries (see #4 below). Processing for all accounts should continue as necessary.

 

  1. KFS has the ability to show the prior year balances carried over into the new fiscal year. Ending balances from Fiscal Year 2017, which are scheduled to be loaded overnight on July 3rd as pending entries, will be regularly updated into Fiscal Year 2018 until the final close in August.

 

  1. Encumbrances:
    1. New Fiscal Year 2018 external encumbrances (Purchase Orders) are in KFS.
    2. Prior Year external encumbrances that are carried forward into Fiscal Year 2018 are also in KFS.
    3. Fiscal Year 2018 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
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

2/15/2017 – Tips on Approving Controllable Property

5 Quick Facts about Controllable Property:

  1. Controllable Property includes ALL computers, and other items that are sensitive, portable, and theft-prone (laptops, tablets, Notebooks, cameras, projectors, etc.) and other items deemed controllable by the department.
  2. Controllable Property has a cost of under $5,000 (no minimum)
  3. A standard report “Controllable Property” is in the Capital Assets folder in KFDM
  4. Individual departments are responsible for tracking Controllable Property
  5. The KFS Object Code for Controllable Property is 8306

Part 3 of 5:

Tips on Approving New Controllable Property (Asset Global Add) eDocs

The KFS Fiscal Officer on the Department Owner KFS account will receive an Asset Global (AA) eDoc in their action list. This is the eDoc that creates the asset record.

The approvers of this eDoc should verify that the following fields are correct:

Asset Location (Campus, Building Code, Building Room Number)

Organization Inventory Name (Custodian*)

If several computers are purchased at once, a single person may be listed as the custodian of all of the computers. Please take the time to update each asset record to the correct person.

Alternatively, an Asset Edit can be done later by the CAM Processor** to change the Custodian and the Asset Location (one asset at a time). To do this, go to:

KFS > Main Menu > Lookup and Maintenance > Capital Asset Management > Asset

Look up the asset using the tag number, and click “edit” to open an Asset eDoc. To add or change the custodian (Organization Inventory Name), click on the Organization Information tab.

The tag number(s) sent to the department will be on the eDoc, and the PO number or P-Card eDoc number will be listed in the “National Stock Number” field.

Questions? Need help? Contact Inventory Control at InventoryControl@uconn.edu, give us a call, or visit our website http://accountingoffice.uconn.edu/913-2/

*The Custodian is the person who is in possession of the equipment, is responsible for safeguarding the equipment, and is aware of the equipment’s location.

**To have the KFS CAM Processor role (Role #6) added to your KFS profile, please go to financesystems.uconn.edu and complete the Additional Functional Request form found under Request Forms.

Next Month’s Topic: Tips on Managing Controllable Property / the Controllable Property Standard Report


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

1/6/2017 – Tips on Purchasing Controllable Property

5 Quick Facts about Controllable Property:

  1. Controllable Property includes ALL computers, and other items that are sensitive, portable, and theft-prone (laptops, tablets, Notebooks, cameras, projectors, etc.) and other items deemed controllable by the department.
  2. Controllable Property has a cost of under $5,000 (no minimum)
  3. A standard report “Controllable Property” is in the Capital Assets folder in KFDM
  4. Individual departments are responsible for tracking Controllable Property
  5. The KFS Object Code for Controllable Property is 8306

Part 2 of 5:

Tips on Purchasing Controllable Property

Controllable Property should be coded to object code 8306 Controllable Property Equipment <$5,000 in KFS.  Inventory Control will create asset records for all items on Purchase Orders using this object code. Inventory Control will also send out tags to whoever is listed as the “Delivery To” person on the purchase order. Dell computers will generally arrive pre-tagged, so no tags will be sent.

If Controllable Property is purchased using a P-Card, Inventory Control will create an asset record and send out a tag to the department.

If a General Error Correction (GEC) or a Distribution of Income and Expense (DI) is used to change the coding TO 8306 on a transaction, please notify Inventory Control so that an asset record can be created and a tag mailed out.

Questions? Need help? Contact Inventory Control at InventoryControl@uconn.edu, or give us a call.

Next Topic: Approving New Controllable Property (Asset Global Add) eDocs

 

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

11/29/2016 – Tips on Categorizing Controllable Property

5 Quick Facts about Controllable Property:

  1. Controllable Property includes ALL computers, and other items that are sensitive, portable, and theft-prone (laptops, tablets, Notebooks, cameras, projectors, etc.) and other items deemed controllable by the department.
  2. Controllable Property has a cost of under $5,000 (no minimum)
  3. A standard report “Controllable Property” is in the Capital Assets folder in KFDM
  4. Individual departments are responsible for tracking Controllable Property
  5. The KFS Object Code for Controllable Property is 8306

Part 1 of 5:

Tips on Categorizing Controllable Property

Controllable Property is tangible personal property with a cost under $5,000. It includes items that are sensitive, portable, and theft-prone in nature. These items are prone to theft because they are either not secured, are easily portable, contain new technology, contain sensitive data, and/or they are adaptable for personal use.

All computers (desktops, laptops, Tablets, Notebooks) are considered controllable. Each department should use discretion to determine which other types of items should be categorized as controllable. This may differ from one department to another.

Other types of equipment that may be considered controllable include:

Audiovisual equipment
Televisions
Projectors
Communication equipment
Cellular phones
Printers
External hard drives
Scanners
Cameras
Scientific equipment

It is possible that an item that is considered controllable in one department may not be controllable in another department. Here are a couple of examples:

Example 1:

A projector that is on a cart and moved from one room to another with several potential users: Controllable.
A projector that is installed in a ceiling in a locked room: Not Controllable.

Example 2:

A microscope in an open lab with widespread access: Controllable.
A microscope in a locked lab with limited access: Not Controllable.

Again, each department should assess which items should be controllable in their area depending on their business environment and the risk that certain items may be stolen.

Next Month’s Topic: Purchasing Controllable Property

 

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