In preparation for Workday HCM & Finance go live on November 15th 2023, the Controller’s Office in collaboration with the Office of Sponsored Programs Accounting and Compliance (SPAC) has established a checklist intended to be a guide to assist units in reviewing your accounts to ensure your accounts are transferred appropriately from KFS to Workday. Please keep in mind the Finance cutover to Workday will follow the normal month end process with earlier cutover dates. KFS will close at the end of the day on October 31st and remain closed. Financial processing will resume when Workday is live on November 15th. We strongly encourage you to review this checklist and take action where needed to ensure transactions are recorded accurately, completely and timely in your accounts.
Checklist Information
➤ Review each of your KFS accounts ensuring that the fiscal officer is assigned appropriately and those in your organization are appropriately assigned to roles on your accounts.
➤ Review and perform appropriate clean up on KFS accounts that can be inactivated to accurately maintain the unit’s chart of accounts. The last day to make any changes to chart of accounts is Friday, October 13th.
➤ Review gift funds to ensure activity is appropriate, with special attention to cases where the distribution is not spent timely. These situations should be appropriately explained.
➤ Ensure that individuals are appropriately costed on a timely basis on accounts to reduce or eliminate out of period costing adjustments. This is especially important with the proper allocation of costs to grants and other restricted funds.
➤ Monitor and take action on pending transactions to ensure they are reviewed/approved/posted in a timely manner, with special attention to period close deadlines. Last day to submit KFS Financial Documents (DI, GEC, AV, JV, IB, SB, TOF, ST, LLJV) to central administration is Friday, October 27th.
➤ Clear deficit balances
A check-in meeting will be organized in the coming weeks to determine how activities are progressing, and if any additional assistance is needed.