May 12, 2011 - Financial Business Service Centers, Kuali Financial System at Cornell
Keywords: Accounts Payable, balances, ID&R, Kuali Financial System, modules, Purchasing, reporting, standard operating procedures, year-end
This is the newsletter for the Kuali Financial System (KFS) implementation project. KFS is a modular, Web-based financial system built by and for higher education by the Kuali Foundation, of which Cornell is an active partner. KFS will launch and become Cornell’s book of record on July 1, 2011.
We’re on the final stretch now—less than 2 months until KFS goes live on July 1! The world of finance at Cornell is about to change. Please read on for the steps you can take now (or very soon) to get what you need from our new financial system.
In preparation for “go-live,” the KFS team, campus testers, and interface owners are currently conducting the first of two “dress rehearsals.” The goal of these rehearsals is to simulate daily processing, verify existing business process flows, interfaces, integrations, and batch processes while demonstrating sufficient stability and correct functional operation so that stakeholders can sign off on the system.
These rehearsals will take place during two sessions: May 2 - 13 and May 23 - June 3.
In preparation for our new system, certain tasks must be performed that go beyond normal year-end procedures. Lists of these tasks and their deadlines are presented by month at Important KFS Dates and Deadlines.
Also posted are links to Accounting Services’ year-end information page and procurement updates related to year-end from Supply Management Services.
The Using KFS section of the KFS Web site has expanded to include the functionality of Purchasing and Accounts Payable. Here you can find what will be different in KFS, including high-level business process diagrams and e-doc details.
Account balances, as we know them today, will no longer exist in the new world of KFS. Instead, balances will become amounts listed by account AND object code (and sub-account or sub-object, if you so desire). So in any given account, you may have many balances—as many as you have object codes in that account. For additional information about this key concept, see Balance Inquiries. For information about balances in general, please refer to the KFS blog.
As a reminder, standard operating procedures for KFS e-docs are published on the DFA Tools page. Please note that any published procedures are subject to modification pending ongoing analysis. Please refer to the Tools page for the most recent version.
Open monthly meetings continue to share progress on KFS Information Delivery and Reporting (ID&R) project deliverables, including KFS dashboards, KFS application inquiries, and ID&R training. Please consider attending one or more of these update meetings:
Slides from February, March and April meetings can be found on the KFS Presentations page.
Meeting locations may change if attendance exceeds room capacity. To confirm the location, please see the KFS Events page.
Please send project questions to Mike Allmendinger, KFS campus readiness lead, at kfs-feedback@cornell.edu.
Best Regards,
The Kuali Financial System Implementation Team
