KFS Release 5.3
Additional Account Lookup Search Criteria
Enables searching for accounts by Reports to Chart, Reports to Organization, Responsibility Center and Fund Group.
Notification when Procurement Card (PCDO) or Payment Request Documents (PREQ) are Automatically Approved
Under certain conditions the KFS system can automatically approve documents of these types. When these documents are auto-approved by the system they will now generate an FYI action request to notify the Fiscal Officers of accounts appearing on those documents.
Line Description Field Added to Several Documents
A “Line Description” field has been added to the Auxiliary Voucher (AV), Budget Adjustment (BA), Year-End Budget Adjustment (YEBA), Indirect Cost Adjustment (ICA) and Journal Voucher (JV). This field already exists on most other Financial Processing documents. It is optional and allows the assignment of a unique description to each accounting line on a document.
To assist in compliance with changes in Tax reporting requirements several new fields related to the collection of form W-8 for foreign vendors have been added to the Vendor document. We will now record the date on which a W-8 was signed, the type of W-8 collected, and Country of Citizenship and have added the ability to capture, GIIN Code, Foreign Tax Id, Date of Birth, and Chapter Status Codes where appropriate.
Improved Sub-Totaling on the Cash Receipt Document
Additional automatically calculated sub-total fields have been added to the Cash Reconciliation tab. Included now are a Money Submission Total (checks + cash + coins), fields for Change Requests totals, and a Reconciliation Net Total (Money Submission Total – Change Request Total) that should match the total of the Accounting Lines section.
Indirect Cost Recovery (ICR) Encumbrances
To aid in the calculation of available balances on grant accounts an enhancement to calculate Indirect Cost encumbrances based on existing and new direct cost encumbrances has been added. These indirect cost encumbrances are then reduced as the corresponding direct cost encumbrances are removed. These encumbrances will only appear on contract or grant accounts that calculate indirect cost.
These ICR encumbrances will be calculated on encumbrances of balance types EX, IE and PE, will appear in the regular ICR expense object codes (5500, 5501), and will use the regular ICR rate for the account and respect the same ICR object code exclusions. These entries will share the same balance type, document type and document number as the direct cost encumbrance they’re associated with, but will have a unique Origin Code of “IR.” The entry description will state “ICR Encumbrance” followed by the document type and document number of the originating entry.
ICR encumbrances WILL NOT be booked for the income side of ICR.
The ICR encumbrance will be relieved as the expense encumbrance is reduced (via payment, closing PO, etc.)