Kuali Days VII Pre-Conference KFS Basics Overview David Lyons, NACUBO.
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Transcript of Kuali Days VII Pre-Conference KFS Basics Overview David Lyons, NACUBO.
Agenda
• Introduction to Kuali• Kuali Financial System Project• KFS Advantages• Today’s Focus
Chart of AccountsTransaction ProcessingGeneral Ledger
• Q & A
Introduction to Kuali
• Community source initiative
• Develop a comprehensive administrative suite to serve the needs of all Carnegie Class colleges and universities.
What is Kuali? (cont.)
Kuali Foundation• Non-profit organization with responsibility for:
• Sustaining the initiative• Providing on-going governance• Coordinating partner efforts• Managing and protecting intellectual property• Conference planning• Educating and assisting members of the Kuali Partners program
• 29 members including commercial affiliates across all projects
KFS Project (cont.)
Project Scale• $10m total project cost• 100+ person-year effort• $4.4m Founding Partners’ original commitments
Cash or tendered personnel resources
• $2.5m 2005 Andrew W. Mellon Foundation grant • $3.1m New Partners’ commitments & Founding
Partners’ additional contributions
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KFS Project (cont.)
Based on IU’s FIS -Financial Information System• 13 years of operations• 7 campuses of various sizes• $2.4 billion annual expenditures• Flexible chart of accounts• Need to port to new technology environment
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KFS Project (cont.)
The Kuali Financial Systemis an electronic systemof related financialcomponents that allowyou to initiate, approve,and retrieve financialinformation about yourinstitution.
Chart of Accounts
General Ledger
Financial Transactions
Purchasing/Accounts Payable
Contracts & Grants
Labor Distribution
Effort Certification
Budget Construction
Accounts Receivable
Capital Assets
Balance Inquiries
Online Help
KFS Project (cont.)
Release 1 – October 2006Chart of AccountsGeneral LedgerFinancial TransactionsOn-line balance inquiriesKuali Enterprise Workflow (KEW)
Release 2 – November 2007Labor DistributionContracts & GrantsPurchasing/Accounts Payable
Release 3 – March 2009Budget ConstructionAccounts ReceivableCapital Asset Management System (CAMS)Effort Reporting (Labor Distribution)Purchasing/Accounts Payable (cont.)
Functional Modules
KFS Advantages
• Workflow
• Edits/Business Rules - e-Docs
• Import/Export Capabilities
• Document Attachments
• Sub-Accounts/Sub-Object Codes
KFS Advantages (cont.)
• Transaction Audit Trail
• Automated Entries at Each Update
• Real Time Access to Pending Entries
• 24/7 Access to Balances