The current manual process of making a change to your capital assets — in which campus personnel submit requests to the central office — will be replaced by the new KFS process in which campus personnel will be able to update their own assets, including serial numbers, tagging information, descriptions, and user information. Likewise, the current manual process of routing documents will be replaced by the new KFS workflow.
In KFS, you will also be able to enter non-capital assets (items with an acquisition cost of less than $5,000) into the Capital Assets module. For example, if a unit would like to track their computers, they can use the Capital Assets module to do so instead of maintaining a separate database.
The new process will also allow you to capture warranty and repair information, track component parts, automatically generate general ledger entries for capitalization, retirement, transfers and depreciation, as well as scan and upload physical inventories.