To All KFS and KFDM Users:
The Final Close for the KFS UC Chart for Fiscal Year 2020 will take place tonight, Wednesday, August 26, 2020. KFS will be unavailable beginning at 5 pm today. By Thursday morning, August 27, final balances from 2020 will be carried over into Fiscal Year 2021 as beginning balances. These amounts will no longer be seen as pending entries in Fiscal Year 2021; they will be final and posted amounts.
For contract and grant accounts, ending balances for 2020 will be seen in the “Contracts Grants Beginning Balance Amount” field on the General Ledger Balance Lookup for 2021.
For all other account types, ending balances for 2020 will be seen in the “Beginning Balance Line Amount” field on the General Ledger Balance Lookup for 2021.
The Kuali Financial Data Mart (KFDM) will also be updated to include the beginning balances for Fiscal Year 2021.
Annette Pavone, CPA
Accounting Manager, Inventory Control & Capitalization
University of Connecticut
343 Mansfield Road
Storrs, CT 06269-1074
Phone (860) 486-2934