What is the Chart of Accounts?
The Chart of Accounts, also referred to COA, is the coding structure for Kuali for Stevens. The Chart of Accounts (COA) contains all the coding for recording transactions and for the purposes of reporting.
The Chart of Accounts is the set of codes and characters, their relationships, their meanings and their uses. The Stevens Institute chart code is SI. It holds all of the account numbers, object codes, fund groups, etc. The Chart of Accounts defines the attributes associated with an account when it is established, as well as, the transactional codes entered by a user each time an accounting line is completed on an e-doc.
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Accounts are the fundamental building blocks of transactions in KFS. They are used to identify a pool of funds assigned to a specific university organizational entity for a specific purpose. An account has many different attributes associated with it when it is established. These attributes often determine how the Kuali Financial System allows you to use an account in transactions. The attributes associated with an account aid in reporting or drive special processes, such as the indirect cost calculations. Financial transactions are always associated with one or more account.
KFS account numbers contain seven digits. The first two provide a visual identifier that specify Fund Type and Sub-Fund Type; these define in general terms the source of the funding and the general purpose for which the account can be used.
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One of the transaction codes in object code. It is a four digit code that classifies all financial activities, based on accounting principles, into detailed categories such as income, expense, asset or liability. The first digit of the object code is a visual identifier of the object type.
|Object Code Begins With||Object Type|
|1||AS - Assets|
|2||LI - Liabilities|
|3||FB - Net Assets|
|4||IN - Income|
|5 and 6||EX - Expense|
|7||EE - Expenditures not Expenes|
|5 and 6||ES - Expenses not Cash|
|8||TI - Transfer In|
|8||TE - Transfer Out|
Please note the object type when choosing object codes. In some cases, such as fees, there has been some degree of confusion on the collection of a fee into an account (income, 4XXX object) and the payment of a fee from an account (expense, 5XXX object).
Please refer to the Codes ribbon of the Guides section for detailed information on object codes, including definitions.
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For more information or questions on the Chart of Accounts, please contact firstname.lastname@example.org or call 201-216-8000. Thank you.