KFS Sub-Accounts

Owned by Sarah Nguyen (Deactivated)
Last updated: Apr 02, 2022
3 min read

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 the 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.

Under Sub-Account Lookup, enter the account number in the appropriate box. The results will appear at the bottom of the screen.

Sub-Account Use Example (GLT)

account, sub account, and object fields

Sub-Account Setup

Creating a New Sub-Account

  1. From the Chart of Accounts Menu, navigate to Activities and then to Sub-Account.

  2. Click Create New.

  3. Complete the Edit Sub-Account Code section by filling out the following fields.

    1. KFS Account Number

    2. Sub-Account Number (up to 5 letters/numbers)

    3. Sub-Account Name (full name)

  4. 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

  1. From the Chart of Accounts Menu, navigate to Activities and then to Sub-Account.

  2. Enter Existing Sub-Account.

  3. Click Copy.

  4. Complete the Edit Sub-Account Code section by filling out the following fields.

    1. KFS Account Number

    2. Sub-Account Number (up to 5 letters/numbers)

    3. Sub-Account Name (full name)

  5. 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

  1. Search for the Sub-Account.

  2. Select Edit.

  3. Uncheck the Active Indicator box.

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