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Hello All,
Can somebody help me out on encumbrance accounting in 365O,
I have a requirement to configure commitment accounting with some decent reports. However, I was looking for some blogs and came across about encumbrance accounting and for that you need to set up budgeting against encumbrance accounting in order to get holistic report.
The requirement is that expense will have budget and will post purchase order against those expenses which will have encumbrance set up already when the PO is confirmed and it will reverse when PO is invoiced.
Since the encumbrance nullifies all the account and leaves zero balance, how do I ensure my cost is getting booked against encumbrance and shows me remaining balance on the expense. (Through budgeting analysis i would like to see remainder balance against expense and how much have used on encumbrance)
I have tried setting up budgetary control, had done original budget register entry as well as entry for encumbrance budget code but didn’t work the way I wanted really.
1) To set up encumbrance I have used following link
2) I have configured budgetary control and activated
3) I have done budgeting registry entry to get analysis on the encumbrance
If anyone of you have already experienced, please share your outcome or advise if I have missed anything from configuration point of view.
Thanks,
Pratik
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