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Object Code

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The Object Code document is used to establish new object codes or to copy or edit existing object codes. Object codes represent all income, expense, asset, liability and fund balance classifications that are assigned to transactions and help identify the nature of the transaction. Examples of object codes might include travel expenditures, student fee income, accounts receivable, and invoices payable. Object codes are specific to a chart and a fiscal year and contain several attributes throughout the KFS for financial reporting at the detail and consolidated levels.

The Object Code document comes with a global document option where you can create a group of new object codes or update the existing object codes all at once.

   For more information about the global document see Object Code Global.

Document Layout

The Object Code document includes the Edit Object Code tab.

Edit Object Code Tab

Edit Object Code tab definition

Title	Description
Fiscal Year	Required. Enter the fiscal year of the object code or search for it from the Fiscal Year lookup .     The KFS is set up so the Object Code table is based on fiscal year therefore each year can have a different set of object codes.
Chart Code	Required. From the Chart list select the chart to which the object code belongs, or search for it from the lookup .
Object Code	Required. Enter the code to identify the object code which must be unique within the chart and fiscal year to which it belongs.
Object Code Name	Required. Enter the long descriptive name of the object code which appears on the Accounting Lines tab in financial documents as well as in searches and reports.
Object Code Short Name	Required. Enter the shortened version of the object code name for use in reporting where space is limited.
Reports to Chart Code	Display-only. The value automatically defaults to the Reports to Chart of Accounts Code value associated with the Reports to Object Code's Chart Code value once it is entered.
Reports to Object Code	Required. Enter the object code that the object code reports to in the next higher chart, or search for it from the Object Code lookup . For example, the object code for book sales in an auxiliary chart might report to the object code for sales and services in the campus chart
Object Type Code	Required. Enter the code or search for it from the Object Type lookup . This is used to identify an object code as income, expense, asset, liability or fund balance. Multiple values exist for income and expense to support GL functionality.
Level Code	Required. Enter the code or search for it from the Level lookup . This is the summary code for a given range of detailed object code classifications and identifies the level to which the object code belongs.
Object Sub-Type Code	Required. Enter the code or search for it from the Object Sub-Type lookup . This is the designation assigned to similar groups of object codes. Sub-types are often leveraged in the KFS to apply business rules or to help with reporting.
Historical Financial Object Code	Optional. Enter the code or search for it from the Historical Financial Object Code lookup . This provides for a means of referencing a different object code previously used for this purpose and can be used for historical reporting. One to many relationship to pre-KFS implementation.
Legacy Object Code:	Optional. . Enter the code or search for it from the Legacy Financial Object Code lookup . This provides for a means of referencing a different object code previously used for this purpose and can be used for historical reporting. One to one relationship to pre-KFS implementation.
Active Code	Optional. Select the check box if the object code is active and can be used on financial documents. Clear the check box if it is inactive.
Budget Aggregation Code	Required. Enter the code that indicates at what level the object code can be used for budgeting, or search for it from the Budget Aggregation Code lookup . The standard values are: O = Object code level C = Consolidation level L = Level
Mandatory Transfers or Elimination Code	Required. Enter the code or search for it from the Mandatory Transfers or Elimination Code lookup . These codes are used to identify whether the object code is one of the following and are used by the KFS for the application of business rules where mandatory transfer or elimination codes are either required or prohibited: M = Mandatory transfer code E = Elimination code N = Neither
Federally Funded Code	Required. Select the indicator to show whether this is an object code for capital equipment from the Federally Funded Code list, or search for it from the lookup . Examples of values might include N = Non-federally funded, university owned O = Federally funded, university owned F = Federally funded, federally owned
Next Year Object Code	Optional. Enter the object code that represents the object code in the next fiscal year.

Process Overview

More:

Business Rules

Routing

Business Rules

• If the Reports to Chart Code value is not the highest chart level, the reports to object code, fiscal year, and chart code combination must exist in the Object Code Table.

• If the Reports to Chart Code value is at the highest level, then the object code must report to itself as an additional rule.

• If a Next Year Object Code value is entered, then the current fiscal year, chart code, and next year object code combination must exist in the Object Code Table.

Institutional Reporting: The KFS provides for various fields available for institutional reporting. You can, for example, define a top level chart that consolidates activity for reporting purpose. After the top level chart is defined, the Statement of Net Assets and Statement of Revenues, Expenses and Changes in Net Assets can be designed, using 'Reports To' chart and object code and the sub-totals by the object code levels and consolidations on the top chart. Or, you may design responsibility center reports using the organization roll-up of accounts. For more information about the capabilities of the organization within the Chart of Accounts, refer to Organization and Organization Type.

Routing

The Object Code document routes to the Chart Manager for the chart associated with the object code followed by routing to the University Chart Manager.