Kuali Financial System

Application Adjustment Document Help

Video: KFS APPLICATION ADJUSTMENT DOCUMENT

Video: KFS APPLICATION ADJUSTMENT DOCUMENT

Purpose

This document can be used for correcting payments posted to the wrong customer and invoice.  It can also be used to reverse a payment and refund the customer for an overpayment at the same time.  The first time an adjustment is made, the user is required to enter a payment Application document number.  If creating an adjustment for a payment Application where another adjustment has already been processed, the previous Application Adjustment document number should be entered.

KFS will validate that the document number entered is assigned to the organization for which the user is assigned; KFS will not allow a user to apply payments that do not belong to their organization.

Four actions can be performed on the document:

  • Move a payment to another invoice within the same organization
  • Refund the customer
  • Return to C.O. (Cashier’s Office)
  • Manage the unapplied payments

The Return to C.O. option is generally used when a department has received a payment in error from a customer and there aren’t any open invoices within that organization for which it can be applied.  In other words, the customer owes money to the university but not to the department for which the payment was posted.  Once payment is distributed to the Cashier’s Office or Refunded to the Customer, that $ is NO longer available for future adjustments.  For the Return to C.O. option, the Cashier's Office will then move the unapplied $ to the appropriate department for managing.

NOTE: The Explanation field is required on this document.  If an explanation is not entered, the document will require one before the document will route.

Routing

  • Document routes to the Fiscal Officers/any applicable Organization Review hierarchies for review and approval
  • In addition to the above routing, doc routes to A&FS for approval when the selected action is a refund or referred to central office

Supplemental content

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