Continuation accounts with contracts and grants
To continue the big wins from the KFS Contracts and Grants module, how many times do you receive a call about a contract or grant item in suspense because the account has a “Stop”? In KFS, each account that has an expiration date will require a continuation account, and all sponsored accounts will have one. [...]
Separate or merge assets–there’s an e-doc for that!
Yet another helpful feature of the KFS Capital Assets module is that you can use it to merge or separate assets. Once an asset is created, and you realize that two pieces of equipment are really operating as one, an e-doc will allow the Capital Assets office to merge them. Once the target asset and [...]
Scan for quick inventory entry
KFS enables you to scan asset tags and upload physical inventory results, a huge time-saver that will help eliminate errors caused by manual entry. Inventories are necessary to verify the physical existence of an asset. Once scanned (scanning is the preferred method), the asset location and the inventory date will be updated in the Capital [...]
Automatic general ledger entries = a real summer vacation
A big win for us in the central office as well as staff in the units is that the KFS Capital Assets module will automatically generate general ledger entries for capitalization, retirement, transfers, and depreciation. Units will be able to create their own financial statements using current depreciation numbers. Capital assets are purchased on operating [...]
Capital Assets Processing
One of the huge benefits of the Kuali Financial System is that all its modules are integrated. By example, whenever a capital object code is used in a KFS e-doc, the transaction will automatically be routed for entry into the Capital Assets module. This will be true for items acquired with a purchase order or [...]
Keeping it Together: Cap Assets, Non-Cap Assets, and Warranty
Track it all in one KFS place Right now, tracking non-capital equipment (items with an acquisition cost of less than $5,000, like most computers) means maintaining a separate spreadsheet or database. In KFS, you’ll be able to enter non-capital assets into the Capital Assets module and track them as appropriate. This will be beneficial for [...]
Say goodbye to paper forms, hello to information
Saying goodbye to paper forms is a common theme across KFS modules, and it’s true for the Capital Assets module as well. We currently use paper forms for adding new equipment not purchased through Supply Management, internal transfers of assets, and asset disposals. In KFS, these will be replaced by e-docs–electronic transactions–that will be automatically [...]
View and Track Your Capital Assets
Currently, to make a change to your capital assets, you must send a request to the central office. One of the biggest wins coming from the KFS Capital Assets module is that you will be able to view and update your own assets, including serial numbers, tagging information, description, and user information! You’ll even be [...]
Recent Comments