Self Service Procurement

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    Ashok
    Oracle Self Service Procurement Cloud: Funds Status on...
    Topic posted April 17, 2018 by AshokBlack Diamond: 60,000+ Points, tagged Approvals/Notification, Budget/Encumbrance, Create Requisition, Tip 
    537 Views, 3 Comments
    Title:
    Oracle Self Service Procurement Cloud: Funds Status on Requisitions
    Summary:
    How does Funds Status work for Requisitions?
    Content:

    What is Funds Status and how does it work on a Requisition:

    The funds status is the indicator of whether the requisition can be processed into a purchase order based on funds being available in a budget controlled business setup. The funds status is determined at the distribution level of a requisition based on the charge of account, project, and budget date. This then rolls up to the line and header. All distributions of all requisition lines must pass funds check for funds to be successfully reserved for a requisition.

    What are the various funds statuses and how are they processed:

    1. Funds Statuses used when a requester uses the Check Funds feature:

    - Not Applicable: Indicates that there is no control budget that applies to a requisition distribution.

    - Passed: Indicates that the funds check passed successfully, and that the funds are available and budgetary control period is open for all control budgets that apply to the distributions contained in the requisition.

    - Failed: Indicates that the funds check failed either because period is closed or funds are not available for one or more control budgets that apply to one or more of the distributions contained in the requisition.

    - Warning: Indicates that the funds check passed with warning. It indicates that the funds are insufficient but the control budget allows for a tolerance amount or percentage over the available budget. This check funds status does not prevent the user from submitting the requisition for approval. Upon submission, the user will receive a warning message and decide whether to continue with the approval.

    2. Funds statuses used after a requisition is submitted for approval or after requisition is approved, depending on reservation point setup in Budgetary Control.

    - Not Applicable: Indicates that there is no control budget that applies to one or more distributions contained in the requisition.

    - Reserved: Indicates that the funds check passed successfully, funds are reserved and the commitment is created.

    - Liquidated: Indicates that the commitment is reversed and the obligation is created for the purchase order associated with the requisition line.

    NOTES:

    1. On Create: For requisitions that are incomplete, the default funds status is "Not Reserved".

    2. Explicit funds check by the requester: When the user clicks on Check Funds, the application performs an explicit funds check. The funds status resultant from an explicit funds check is not stored with the requisition. Users can perform as many funds check as they need before submitting the requisition for approval

    Comment

     

    • Vrajesh Jadawala

      Is there a option available wherein I can default budget date of PR distribution on bases delivery date of PR line automatically?

    • Ashok

      No. 

      I am interested to understand how that would work. Delivery Date could be in a different financial period too. Would you not want to reserve funds at the time the transaction is entered into? What is the use case you have here?

    • Vrajesh Jadawala

      Use Case :-

       

      PR delivery date in next financial year as you said.for example 1/Jan/19.

      But budget date is today that is system date.

      And as you said need is not to reserve budget today but we want to have that budget reserved for 1/Jan/19 the day when we are actually going to get goods/service.

      Budget allocation needs to be done bases on actual receipt date rather than requisition booking date.