University of Connecticut University of UC Title Fallback Connecticut

KFS Continuation Account Functionality

In KFS, accounts with end dates (mostly grants and contracts managed by the Office for Sponsored Programs/OSP) will be required to have a continuation account listed. As soon as an account is assigned an “Expiration Date” in KFS, the “Continuation Account” becomes a required field. Both of these fields are located on the Account Responsibility tab. A sample screen shot is shown below.

Continuation accounts provide KFS a place to post transactions that may or may not be allowable on the expired account. This functionality is most applicable for grants and contracts, as these types of accounts have strict end (expiration) dates. In our current system, these types of transactions may be posted to a suspense account, or cannot be processed at all because the account is frozen. The continuation account allows for the transaction to be posted rather than being completely rejected.

KFS allows users to set parameters related to continuation account functionality. In other words, we can configure the system to allow certain types of transactions to exclude the continuation account logic. For example, we can allow routine post end-date activity such as the posting of payroll and pro-card reallocations to be recorded in the original grant account.

OSP staff members are working to develop a business process for this activity, and more information regarding continuation accounts will be forthcoming.

 

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