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Topic

    ANSHUMAN DAS
    Budgeting and Encumebrances
    Topic posted May 6, 2019 by ANSHUMAN DASRed Ribbon: 250+ Points, tagged Financials, General Ledger, Public Sector 
    48 Views, 1 Comment
    Title:
    Budgeting and Encumebrances
    Summary:
    budget and encumbrances from previous year
    Content:

    I posted the question earlier but doing it again

     

    If we have an open encumbrance or purchase order that pertains to a prior year budget year (2018), the claim would be paid in the current year (2019) Oracle Fusion Financial System (through Accounts Payable) but where would the expense be recorded since neither the purchase order or encumbrance or 2018 budget and expense have been set up in Oracle?

    Version:
    19A

    Comment

     

    • Zoë Read

      The budget date on the invoice distribution determines which control budget is impacted and the accounting date determines which period the encumbrance journal entry is created.  If the control budget period or the encumbrance year is not open Budgetary Control will fail or Create Accounting will fail.