In Kuali Financials, Sub-Accounts, Sub-Object Codes, and Project Codes are used to define activity or flag transactions when an Account or Object Code does not provide enough detail.
- If you need details for transactions that span numerous object codes and only a few accounts, Sub-Accounts may be a handy alternative to opening new accounts.
- If the type of income or expense is limited to a few object codes but spans several accounts, use Sub-Object Codes.
- If spanning multiple accounts across multiple organizations and activity is not limited within those accounts, use Project Codes.
KFS Sub-Accounts
Use Sub-Accounts when a small number of accounts has several activities spanning multiple Object Codes.
Pros
- Can further define activity within an account.
- Can be applied to budgets, actuals, and encumbrances.
- Can be added by Fiscal Officer when approving eDoc if not originally added.
- Can be added when approving the Payment Request in HuskyBuy if not added when creating a Requisition.
Cons
- Transactions originating from another system (including Service Billers) may not be able to accommodate additional coding.
- Initiator and/or approving Fiscal Officer must remember to add coding on Accounting Line.
- General Ledger Transfers (GLT) can be done to re-code after complete but creates additional eDocs for the same transaction.
Attributes
- Take on most attributes of main account (e.g., Fiscal Officer, Account Supervisor, Sub-Fund, Function).
- Sub-Account Code is alpha-numeric up to 5 characters.
- Can be used to track income, expenses, and balance sheet items.
Example: Suppose Jorgensen Center would like to track the profitability of each show on their concert series. By coding each transaction to a sub-account, a report can easily be run to show the net profit of each show.
- Account
- Concert Series (3120040)
- Sub-Accounts
- Boston Pops Holiday Concert (BPOPS)
- Audra McDonald (AUDRA)
- Dover String Quartet (DOVER)
- Cinderella (CINDE)
Working with Outside Systems
- Must be set up in KFS first.
- Sub-Accounts can be used with the following systems:
- CoreCT (Payroll) – must be assigned when setting up new employee's payroll distribution in Smart HR or on a Smart HR Funding Change template for existing employees.
- PeopleSoft Student – set up by Office of the Bursar.
- HuskyBuy
- Concur
Sub-Account Lookup
In the KFS Chart of Accounts Menu, select Activities, and then select Sub-Account. Here, you can enter an account number to search for it.
Sub-Account Use Example (GLT)
Sub-Account Setup
Creating a New Sub-Account
- From the Chart of Accounts Menu, navigate to Activities and then to Sub-Account.
- Click Create New.
- Complete the Edit Sub-Account Code section by filling out the following fields.
- KFS Account Number
- Sub-Account Number (up to 5 letters/numbers)
- Sub-Account Name (full name)
- Click Submit.
Once this process is complete, the Sub-Account will be sent to the Fiscal Officer and/or Organization Reviewer.
Copying an Existing Sub-Account
- From the Chart of Accounts Menu, navigate to Activities and then to Sub-Account.
- Enter Existing Sub-Account.
- Click Copy.
- Complete the Edit Sub-Account Code section by filling out the following fields.
- KFS Account Number
- Sub-Account Number (up to 5 letters/numbers)
- Sub-Account Name (full name)
- Click Submit.
Once this process is complete, the Sub-Account will be sent to the Fiscal Officer and/or Organization Reviewer.
Inactivating a Sub-Account
- Search for the Sub-Account.
- Select Edit.
- Uncheck the Active Indicator box.
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