Information flows and financial management - Essay Example

Information Flows and Financial Management Kuali financial system is a new knowledge in management and routing of electronic documents and information for online support in the finance field. The burden of multiple transactions and the financial complexity associated to university and college financial data management and administration sparked the need to for efficient and effective system. This led to the birth of the Kauli financial system by the Kauli community. This system is speedily gaining acceptance by higher institutions of learning.

Though complex to comprehend and adopt its functionality and operation, it has continually spread across the globe (Phillip, 2011).This essay intends to give an implicit description on its operation and transacting. More importantly, the first two scenarios in the test-drive manual. The scenarios are, project code and transfer of funds. This introductory part intends to acquaint a first time user. It entails procedures followed and observations made when running the test drive through the two stated scenarios.

Project code is a simple document that adds to the Kauli Financial system. The person who enter a document in this system is referred to us the author or initiator. On completion of selecting and accumulation of data, the system is able to route the eDoc automatically for online approval. Routing is only possible if its setting in the system is active. This process starts by clicking the “Main Menu” tab. On “Look up and Maintenance” tab click ‘Project Code’. The Look up screen appears.

At this point, click “Create new” to create a new electronic document. The eDoc format appears with an assigned identity number on the top of the screen (Dan, 2011).Details for the eDoc form are as follows: Description: A tender formOrganization number: 540Explanation: The organization intends to construct more houses for accommodating its staff.Project code: 038Project Name: staff housingProject Manager/Principal Name: Tom EdwardsChart code: 98Organization code: 2544Project Description: One phase, construction of one hundred unitsIn reference to the directive on the manual on how to find valid principal names by using several and different characters, it was unsuccessful (Dan, 2011).

Tom Edwards is an alternative principal name in the project manager principal space.After the above steps, submission of the form for approval is done by clicking on the “submit” tab. The screen indicated the following details: The specified project manager principal name, the specified chart code and the specified organization code does not exist. However, using valid codes and principal name, the form’s submission succeeds. This technicality happens because of the rules guiding validation.

These rules are unique in each institution (Dan, 2011).The question in this observation any first time user might ask is, “why the form was not successfully submitted?” Answering this question, (Phillip, 2011) states that only valid organizations and whose details and descriptions are in the Kauli database system can access the services of this system. Consequently, it is not possible for successful submission of this form. However, clicking the save tab, the form is successfully saved on the action list as number 4080.

To check the route followed by the project code ( transaction), click route log tab that is at the bottom of the form. The screen that appears shows all the details saved. This includes the transactions and route status. The “Ad Hoc, Recipients” screen shows the list of action requested and the person who makes the request.On the second scenario of transfer of funds, the process of creating and routing an electronic document starts on the “Main Menu” by clicking on the “transfer funds”.

This is under the “transaction” section. The details of the eDoc are as follows (Dan, 2011).Description: Transfer of funds to student registration hoursOrganization document number: 456Explanation: Transfer of funds from student fee income other account to student registration hour’s account.From: student fee income other Chart: BL, Account Number: 0211101 Sub-account: N/A Object: 0706 Sub-object: N/A, Project: BOB, Org ref Number PSY Amount: 100,000,000.00To: Student registration hoursChart: BL Account Number: 0211102 Sub-Account: N/A Object: 3500, Sub-Object: N/A, Project: VILJO, Org Ref Id: PSY, Amount: 100000000.

00On submitting this form, the process was not successful, due to two errors of using invalid object codes, but using object codes with object sub type’s mandatory or non-mandatory brings successful submission (Dan, 2011). It is notable that unsuccessful submission of the eDoc, is due to the parameters that guide and direct validation of codes and names. This validation principle varies from one institution to another. An institution can set its own rules guiding the validation process (Phillip, 2011).

However; the form successfully saves in the action list as number 4133.Clicking on the “Ad Hoc Recipients” tab, a screen appears that require filling in the kind of action requested and the person requesting. Adding the principal name, the request automatically adds. Clicking on the “Route Log” tab, the transaction trail or route details displays (Dan, 2011).It is notable that this system is operational and accessible 24 hours. The refreshing done on Saturdays facilitates its efficiency.

A couple of benefits are associated with this financial system. For instance, the system is cost effective to institutions, since it does not require licensing fee. The system also routes financial transactions and other documents meant for maintenance, electronically (Greg 2010). In addition, its consistent look and integrated modules facilitates easy access of information. The architectural design used in the system modules enables institutions to employ modules that suit their requirements.

Moreover, the system plays a great role as community source, which brings together several institutions, this propels enhancement of new developments in the system (Greg 2010).In conclusion, Kauli financial system is real solution to the vast nature of data and information handled in institutions of higher learning. It is a safe way of routing and maintaining transactions electronically. (Greg 2010) asserts that, this system is accurate and more efficient in producing documents that support respective transactions.

It is notable that higher institutions of learning embracing this system have cut the administration cost by a greater percentage. Consequently, it is advisable for the rest of the institutions across the globe to follow suit.ReferencesDan L. (2011). Kuali Test Drive Manual. Reviewed 14th July from https://wiki.kuali.org/display/KULDOC/Drivers+Manual+4.1 Greg A. (2010). Connecting With Computer Science.2nd ed. Boston: Cengage, Course Technology.Philip A. (2011). American Higher Education in the Twenty-first Century: Social, Political and Economic Challenges.

Baltimore: John Hopkins University Press.