The Sage MIP Fund Accounting Encumbrances module integrates with the General Ledger module to monitor an organization’s financial commitments. Hand-in-hand with Accounts Payable, users increase internal tracking and external compliance for administering and reporting encumbered funds. Standard reports include an Expenditure / Encumbrance budget report for easy comparisons and an aged encumbrance ledger.
Encumbrances entered into the Sage MIP system distribute encumbered amounts to individual funding sources, grants, programs or other account segments. Outstanding encumbrances liquidate automatically through the standardized entry form for Accounts Payable invoices or manually. The Encumbrances module also works cooperatively with the Purchase Orders module to create encumbrance entries while entering Purchase Orders.
The Encumbrances module functions independently of the Purchase Orders module, but does require the Accounts Payable module.
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