Continuation accounts are required for most expired accounts in KFS.

The Challenge

In the past, financial and payroll transactions sometimes posted to an expired account. This caused a workload for departments as they attempted to track down an appropriate account for which the expense(s) should have posted. Expenses posting to expired accounts could also be seen as a symptom of record keeping that was not as effective as it could be.

The Solution

With the exception of Unexpended Balance (UB) and Income (IN) type accounts, a Continuation account is required when an Account Expiration Date is entered on the Account or Account Global document:

  • Continuation Chart of Accounts Code
  • Continuation Account Number

Please note that the Continuation Account Number will NOT be required if an Account Expiration Dateis NOT entered.

Payroll Continuation Accounts

As of 12/06/12, continuation accounts are used for payroll expenses. NOTE: If the continuation account is also expired, the payroll will post to the original expired account.

Additional Rules

  • If the Sub Account is active in the continuation account, it will be used. If it is not, the expense will post to the default (or no) sub account.
  • If the ORIGINAL salary line used a Project code; that Project code will also be used with the CONTINUATION account (since Project is not assigned to a specific account).