Balances by Consolidation
Description: KFS report that displays account balances at the summarized consolidation level. Can drill down to look at summarized object levels and summarized object codes. Used to check the balances of object consolidations.
Access: Any KFS user can initiate a Balances by Consolidation Lookup.
KFS Module: Financial Processing.
Click a screenshot below to view the full-sized image in a new tab.
Some query fields will be populated by default. On the Balances by Consolidation query, the current fiscal year will display in the Fiscal Year field. Delete or change this input as desired.
Fiscal Year, Chart Code, and Account Number are the only required fields on this query. Limit search results by providing additional search parameters. Use the magnifying glass beside each field to search for a value if you do not know what to enter. Wildcard characters are compatible with all fields in this query except for Fiscal Year and Chart Code.
Balance inquiries allow a user to choose to view balances as consolidated or detailed. In this case, 'consolidation' refers to sub-accounts, not object codes.
- Consolidation: Display the aggregate total for all sub-accounts for the selected chart and account number. Default option.
- Detail: Display the balances for each sub-account for the selected chart and account number, in addition to the balances for the top-level account that are not associated with a sub-account.
- Exclude Sub-Accounts: Display only the balances for the top-level account for the selected chart and account number, omitting any activity associated with sub-accounts.
Include Cost Share Sub-Accounts
- Include: Search results will display activity on Cost Share sub-accounts.
- Exclude: Search results will not display activity on Cost Share sub-accounts. Default option.
Include Pending Ledger Entry
Balance inquiries allow a user to choose to include or exclude pending ledger entries. Pending ledger entries are transactions from documents that have been approved or submitted for approval, but have not yet posted to the General Ledger.
- No: Only return data from documents that reached Final status the previous day; data in this report is one day old. Default option.
- Approved: Include data from documents that reached Final status sometime today. These transactions have been approved and will post to the General Ledger overnight.
- All: Include data from all documents associated with this account, regardless of their status: Saved, Cancelled, En Route status, or Final. Selecting this option can generate misleading results. Saved documents may contain incomplete or unbalanced accounting entries. Additionally, submitted documents may not reach Final status. Use this option with the understanding that saved and unapproved transactions may change drastically prior to posting to the General Ledger, or may never post at all.
- Actual Amount: The total of all actual activity for a given balance line of the selected fiscal year. Only transactions that have posted to the General Ledger are included in the Actuals calculation.
- Budget Amount: The current budget amount in an account for the selected fiscal year.
- Encumbrances Amount: The total of all encumbrance activity for a given account for the selected fiscal year.
- Variance: The funds remaining for the rest of the fiscal year. Income variance is the amount a unit expects to earn; expense variance is the amount a unit has left to spend.The difference between a category or object code's available budget and the actual amounts, plus encumbrances.
Note that, by clicking on the Drill Down link under the Lookup By Level column, the following drill-down sequence is possible:
- Balances by Level
- Balances by Object
On the Balances by Object report, the following drill-down sequence is possible by clicking on a Budget, Actual, or Encumbrance Amount:
- General Ledger Balance Lookup
- General Ledger Entry Lookup
- Open a KFS document or Labor Ledger Entry
Alternatively, from the Balances by Object report, clicking on the Drill Down link under the See Pending Entry column yields the following drill-down sequence:
- General Ledger Pending Entry Lookup
- Open a KFS document or Labor Ledger Entry
By selecting Detail from the Consolidation Option choices, we see a breakdown by sub-account. In the screenshot below, for example, we see that what was listed as a budgeted amount of $3,100 for GENX (General Expenses) was specifically budgeted under the GENX consolidation for sub-account KUALI. The actual expenditure under the GENX consolidation occurred on the APMOV sub-account at at the top-level account.
By selecting Exclude Sub-Accounts from the Consolidation Options choices, we see only activity from the top-level account. In the screenshot below, for example, we see the actual expenditure of $14,091.41 for GENX (General Expenses), without the $17.28 expense on the APMOV sub-account or the $3,100 budgeted amount on the KUALI account.