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    Ashok
    Funds Reservation Point for Budget Enabled Requisitions
    Topic posted August 18, 2018 by AshokBlack Diamond: 60,000+ Points, tagged Approvals, Budget/Encumbrance, Create Requisition, FAQ, How-To, Requisition Processing 
    126 Views, 2 Comments
    Title:
    Funds Reservation Point for Budget Enabled Requisitions
    Summary:
    How to setup funds reservation point on budget enabled requisitions
    Content:

    Problem

    The funds status changes to reserved only after approval. How do I make sure that funds are reserved as soon as the requisition is submitted for approval?

    Resolution

    You can use budgetary controls to define the point in time at which you want funds to be reserved for requisitions and purchase orders. You can enable funds to be reserved when the document is submitted for approval or upon completion of approvals.

    To set up the funds reservation point for requisitions and purchase orders, use the Manage Budgetary Control and Encumbrance Accounting page. From the Setup and Maintenance work area, search for the task Manage Budgetary Control. It is also located under the Budgetary Control and Encumbrance Accounting functional area in the Financials offering.

    You define the funds reservation point at the business unit level. In the Procure-to-Pay Business Functions section, you can set the reservation point for Requisitioning and for Purchasing. For a business function, set the reservation point to one of these options:

        Submission: Funds reservation is done when the document is submitted for approval

        Approval: Funds reservation is done after the document is approved.

    If you want to know more about Funds Reservation and related statuses, this article previously published here should help:

    https://cloudcustomerconnect.oracle.com/posts/b2d94bb383

    As always, feedback and ratings are useful to gauge the effectiveness of these articles.

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