We may have to configure funding or non funding budget based on the client’s requirement. I have produced document below about the configuration of funding budget:
Create Budget account in segment value and enable allow budgeting and allow posting.
Configure standard budget profile option
Enable “Enable Budgetary Journals” and “Reserve Budget Journals” and define the reserve for encumbrance account.
Go to Define>Budget
Enter the budget name, status and open next year
Go to Budget> Organization
Click ranges button and define the following
Click Range assignment
Add the account combinations within the range specified. The budget will only work for these combinations.
Create budget journal and post. Check the result against budget while creating actual journals.
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