Introduction
The experience of using the Kuali Financial system was a nice one for me. One is because the system has easy-to-recognize groups of transactions which are grouped basing on administrative transactions, custom search of documents, the lookup and maintenance of the documents and the reports that can be attained so easily that summarizes the end-of-year transactions.
Scenario 1: Project code
I was able to go through the creation of a new project using the Project code section. It was an interesting experience. This is under the lookup and maintenance section of the lookup and maintenance menu. It has very good links and sections that enable one to create all items and issues pertaining a project. The system automatically assigns the project code. This helps in the management of projects so that there are no duplicate project names. The project ID is simple to remember and document as it is made up of four numerals. The format of the eDoc has fields which are easy to locate. For fields which required specific entries, it was hard at first to search for the entries that I was to enter. I entered arbitrary names but the system returned an error. It did not take time before I scrolled down and I saw that there were suggestions of the names that were entered. The system is persistent. This is because it is not brought down by errors that are sent to the system. I entered much wrong information but the system kept on returning me of that same error. It did not shut down because of these numerous errors. After I made all the entries correctly, I received a message confirming that I had made the right entries and that I had all the required documents filled. Since there was no other additional information that was required of me, the document that I sent went to FINAL phase. The good thing that I liked with the system is that I can send an ad hoc request even after the document is in the final stage. After I requested for ad hoc, the document was now under pending actions.
Scenario 2: Transfer of funds
I also had a chance to work on the second scenario where I was able to create an eDoc that I would use it to transfer funds. This is a function that is enabled in Kuali financial system so that users can be able to transfer funds between the various accounts that are available in the system. In the process I was able to search for the right accounts from the search and maintenance capability. After I got the account type by using search information capability because I did not know the account off-head, I went ahead and entered information about the account from which I wanted the funds to be transferred from. I entered this without any problem. Because I had selected to use BL from the system, the descriptive label and BL were included to give more details of the account in which I was working on. After this, I was went ahead and filled the information To Accounting line. I first of all entered the information like I did in the From Account and then I went ahead and entered the information using import feature which is enabled. I was able to use the CSVs files which are acceptable formats in this. Since I used the import feature, I had to check to see if there were invalid data. I managed to check and then routed the information.
Questions I asked
The questions that kept coming on in the process is what happens if there are two users using the same account and they submit the same transactions at eth same time? Another question is what would happen if in the middle of the transaction there was a problem experienced. What would happen to the pending transaction? These are questions which kept on popping up.
References
Hilbers, P. C., & Jones, M. (2004). Stress testing financial systems. New York: International Monetory Fund.
Neave, E. (1998). Financial systems: Principles and organisation . New York: Routledge.
Neave, E. (2009). Modern financial systems: Theory and applications. London: John Wiley and Sons.
