General Ledger & Intercompany

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Topic

    Fatima Gallego
    Oracle Cloud Automatic PO CarryforwardAnswered
    Topic posted May 15, 2017 by Fatima GallegoGreen Ribbon: 100+ Points, last edited January 30, 2019, tagged Budgetary control, General Ledger, Period Close / Reconciliation 
    75 Views, 3 Comments
    Title:
    Oracle Cloud Automatic PO Carryforward
    Summary:
    Oracle Automatic PO Carryforward
    Content:

    For the Automatic PO Carryforward, our client has specific questions on what gets carried forward particularly on PO statuses "Closed for Receiving" and "Closed for Invoicing". Do these get carried forward in the process? Or only if they carry obligation balances? If we run receipt accrual, then these obligation balances related to them, will they get carried over?

    Best Comment

    Linda Wong

    Please see this whitepaper on how to handle transactions with these statuses:  BudgetaryControl_CarryForward_Rel10.pdf.

    Comment

     

    • Linda Wong

      Please see this whitepaper on how to handle transactions with these statuses:  BudgetaryControl_CarryForward_Rel10.pdf.

    • Fatima Gallego

      Thanks so much Linda. Is my understanding correct: for POs that are "Closed for Receiving" that we have ran the receipt accrual for, they will still get carried forward? At that point we run the receipt accrual, they are turned in to actuals for the month (due to accrual), what are we carrying forward?

       

    • Linda Wong
      • Budgetary Control will carry forward any PO with quantity that is univoiced (and liquidate prior year funds reserved and record new year funds reservation in Budgetary Control). 
      • The Budgetary Control carry forward process is not impacted by period end accrual process which records actual expense and liquidates PO encumbrance in GL
      • If quantity delivered is greater than quantity billed, you should reverse the encumbrance liquidation journal (from the period end accrual process) in the prior year.