Staff can close an
...
account in the Account section of the Chart of Accounts page in Kuali
...
Financials (KFS)
...
.
...
A
closed accountclosed account is more permanent
than an expiring accountthan an expiring account. This is
because nobecause no transactions can use a closed account,
and a closed account canand a closed account can only be re-opened by
the Enterprise Applications departmentthe Enterprise Applications department.
Note that accounts cannot be closed from July
1st1 through the hard close of the UC Chart in August. After the hard close in August, accounts can be closed through the following June 30th.
To close a grant account (sub-fund = RSTSP), please contact SPS.
Closing an Account
...
The Account must have no balance sheet amounts remaining.
Ensure that all account activity is complete.
Initiate a Transfer of Funds
e-doceDoc (TF) to move any remaining available cash (1100 object code) out of the account.
Info The correct transfer object codes to use on the TF are ‘32XX’ and ‘33XX’.title Info The correct transfer object codes to use on the TF are 32XX and 33XX.
30th
Note: Once the TF has been completed (prior to June30th),
youyou can only
close the account after yearclose the account after year-end processing has occurred (in August).
For more information, contact the Accounting Office.
There should be no open encumbrances in an account.
- Ensure
Ensure that all purchase orders are either closed or amended to include a different account.
On
the ‘the Open Encumbrances
’ inquiryinquiry, the Outstanding Amounts should all be zero.
For more information, contact Purchasing.
- Ensure
Eliminate any current or base budgets in KFS by initiating a Single-Sided Budget Adjustment.
For more information, contact your Budget Analyst.
Once you
complete Steps 1 throughcomplete Steps 1 through 3,
initiateinitiate an Account
edit eDoc. To do so, Searchedit eDoc.
Search for the account.
Click edit.Click Edit.
Choose an expiration date. The date can either
be today laterbe today later than today.
Click the
“closed”Closed box on the Account Maintenance tab.
Enter a Continuation Chart of Accounts Code and a Continuation Account Number on the Account Responsibility tab.
Related Articles
Filter by label (Content by label) | ||||||||
---|---|---|---|---|---|---|---|---|
|
...
|
...
|
Page Properties | ||
---|---|---|
| ||
|