Kuali Financial System

Organization Accounting Default Document Help

Video: KFS ORG ACCT DFLT

Video: KFS ORG ACCT DFLT

Purpose

The Organization Accounting Default document determines the accounts that display on the Customer Invoice document. By establishing the default accounts, you don't have to manually enter them on the Customer Invoice document, although you can change them on the Customer Invoice if needed. You can set up your billing structure so that the same account is used to record both the receivable and the income.

General Information

  • Enter the accounting information that will be used as the Org Receivable Account Default, which is the debit side of the transaction when invoices are generated. This account can be a separate (balance sheet) receivable account in the department organization (contact General Accounting to set up a new account) or the accounts will be the same account entered in the Org Income Account Default section. Enter Object 0299 (Accounts Receivable) in the Object field.
  • Enter the accounting information that will be used as the Org Income Account Default, which is the credit side of the transaction when invoices are generated.  This account will record the income earned. For most departments, the object entered in the Object field will be 0060 (Income). 
    • Note: If you are invoicing from a General Fund (SFGT=3,G) account, you must use a reimbursement object in the object field (720R) as income (0060) is not allowed in General Fund accounts.  General Funds should not be used for ongoing sales activities.
  • Enter the account information that will be used as the Org Writeoff Account Default for your organization. In most cases, the account will be the same account entered in the Org Income Default field. In the Object field, enter 7360 (Bad Debt Expense).
    • If you want to charge bad debt to a revenue account (IN Account Type), use object 0064 (Income Writeoff) in the Object field.

Routing

Document routes to the Fiscal Officer(s) assigned to the account(s) cited on the document for review and approval

Supplemental content

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