Understanding the Kx Options: Part 1 KxFinancial

What does KxFinancial do?
In a nutshell, the financial interface passes the revenue information from your Kx system to your financial system in a language the accounting software is designed to understand. Some of the standard interfaces available are, Banner, SAP, and Oracle. For non-standard interfaces, we would compile a script to deliver the financial information for your particular accounting system.

How does KxFinancial work?
The Financial Interface application manages the process of exporting financial transactions from Kx to the external application by distributing the information in a secure way to your accounting department. The export process is typically setup to run automatically at a given time, usually a time that makes sense for your organization’s accounting practices. The application also provides a manual option, which is helpful for ambiguous charges, or if the accounting department has its own process of cost center management already in place. KxFinancial provides a log for tracking exported charges, a status report view and the ability to rewrite export files if needed.

What does KxFinancial do to help my operation?
KxFinancial allows you to set-up account codes specific to a department. When an event is over, and the corresponding charges have been finalized, they can be reconciled to the proper department on export. Some of the financial transactions that can be passed on from Kx are internal and external invoices and credits, catering charges and reverse postings, personal invoices, student payments and any cost center you determine ahead of time. Using KxFinancial is another seamless way to share information, and one more step you can make to improve the efficiency of your day-to-day operations.