The ObjAcct Encumbrance module allows you to record future expenditure obligations and provide managers with accurate reports of spending commitments to significantly reduce the likelihood of over-spending. The module setup allows you to optionally record approved requisitions and/or purchase orders in the general ledger. Commitment and encumbrance balances by account can be viewed online with actual account activity. The system automatically generates the entries to move commitment balances to encumbrance balances and then finally to actual expenditures when a supplier invoice is received.
Account commitment and encumbrance balances can be optionally included, at run-time, in all financial reports to provide decision makers with accurate projections of true discretionary account balances.
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