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Accounting & Fiscal Services Update – End of Fiscal Year
In this message: Accounting Periods During FYE, Budgeting Income,
Reserve Transfers, KFS Classes for FYE
Fiscal Year-End Close
Accounting Periods During Fiscal Year-End Close
 To
make the fiscal close process easier for departments, the following KFS documents will have the June accounting period (JUN26PER12) selected as the default when initiated from July 1 to 15. The accounting period can be easily manually changed, so be
sure to check that the desired fiscal year and month is selected before submitting:
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General Error Correction (GEC) and Restricted General Error Correction (GECR)
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Budget Appropriation Transactions (BAT)
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Auxiliary Voucher (AV)
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Distribution of Income and Expense (DI) (closes July 8)
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Internal Billing (IB) and Service Billing (SB) (closes and auto-approves July 8)
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Procurement Card Document (PCDO)
(auto-approves after July 8)
These documents will revert to their normal behavior – and the July 2026 accounting period – on July 16. Please also be aware of the following during
fiscal year-end close:
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BAs DEFAULT TO JULY
Because inception-to-date accounts have new budgets being created and transferred during July, the Budget Adjustment (BA) e-document will not default to June (it will default to the period of “JULY 2026”).
However, users can select June in the drop down of the document if making budgetary transfers or re-alignments. -
GENERAL LEDGER BALANCE AND ENTRY LOOKUP
When performing ledger balance or any entry lookups in KFS, please note that the fiscal year and period all default to “current” Period 01 and FY 2027 effective July 1. This will need to be changed if transferring
FY 2026 transactions. -
TIP FOR GECs AND GECRs
The default period to post the GEC/GECR defaults to JUNE26PER12 when creating the document. However, when performing ledger lookups, users must be sure to change the fiscal year on the GL Entry Screen lookup
in order to find and import their transactions from the previous fiscal year. Initiators and approvers both should ensure the correct fiscal period is selected before submitting/approving the document.
Help Guides and Support
Budgeting Income on Control Accounts & Recharges
UCI requires all
KFS control accounts (UCxxxxx) for year-to-date funds to have an income balance variance of zero at year end. Departments may choose to budget recharge object codes (39xx) if they want to see the alignment in June final reports. Budgeted income on KFS
contro l
accounts must be aligned with actual income by KFS chart, account, and object. Income budget alignment entries must be final by
8 p.m. on July 15.
For Gift Funds (UC56xxx),
units are advised to run the fund summary report with the organization code entered as the (%) wildcard for gift funds. Steps should be taken with UCI Foundation to properly document the gift and budget the
income to the appropriate operating account.
There is no requirement that non-control accounts (operating accounts) in KFS end the fiscal year with an income variance of zero, but if departments
want to see income budgets equal actual income on FY 2026 reports, then entries to align budgeted income must also be recorded by July 15. Whether income variances are zero or not on non-control accounts, the budget carryforward process will post any budget
surpluses to the unallocated budget object code (0008) by account/sub-account in FY 2027 period BB.
See the
Guide to Budgeting for Income for more information.
Auxiliaries/Sales & Service
Request Transfers to/from Reserves by July 15
Auxiliary and sales & service units who want to record transfers to/from reserve funds for FY 2026 should send requests to the General Accounting
team no later than 3 p.m. on Wednesday, July 15. Transfers should be requested using this
Excel Template. Both auxiliary and sales & service units should use the same template, but please note the following:
Reserve Funds (Auxiliary Enterprises)
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 It
may be appropriate for an auxiliary to accumulate reserves intended to be utilized (expensed) in future years (example: expected capital renewal/replacement costs). -
Auxiliaries are assigned specific fund numbers for reserves.
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Include supporting documentation or a detailed explanation that justifies both the need for the reserve and the specific amount being requested.
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Requests should be sent via
Excel template to Trang Tran in General Accounting
by 3 p.m. on July 15.
Reserves (Non-Auxiliary)
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Official Recharge Activities can fund reserves for similar reasons as auxiliaries – when accumulating reserves for future year expenses is appropriate.
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Official Recharge Activity should use fund 76390 for reserves.
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76390 should be used by official Recharge Activities only (units that require annual Accounting & Fiscal Services review). If you don’t know if you have an Official Recharge Activity in your area, or you’re interested
in starting a new one, contact the
Costing Policy and Analysis unit.
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Include supporting documentation or a detailed explanation that justifies both the need for the reserve and the specific amount being requested.
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Requests should be sent via
Excel template to Trang Tran in General Accounting
by 3 p.m. on July 15.
For questions about reserves, please contact
Trang Tran.
Training & Support
Sign Up for a KFS Course Focused on Fiscal Year End
Users new and old alike are invited to enroll in one of the GEC or BAT Fiscal Year End KFS classes we are offering this year (repeat of classes offered
in June). July 15 is the last deadline for all error corrections and budget allocation and realignments. Make sure you are processing your financial documents correctly by attending a fast-paced review class that goes over some of the tips and common questions
initiators have.
Click class title to view and register on UCLC
 Register
to attend via the UC Learning Center website:
Registration is required to attend a class. Click the class title above and log into UCLC to register for the class. If the link does not work, try searching for “FYE” on the UCLC website. If you
need assistance signing up for classes, contact the KFS help desk at k...@uci.edu.
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