Budgets and grants
Budgets and grants holds each fiscal year’s budgets by fund, cost center, project and grant, synced from your ERP.
How money is tracked
Section titled “How money is tracked”- A request pre-encumbers its estimate.
- A PO raised in Spend encumbers it.
- An approved invoice becomes an actual and liquidates the PO.
Agencies whose ERP keeps its own encumbrances (such as Oracle EBS) hold only requests in Spend and read the rest from the ERP.
Hard and soft control
Section titled “Hard and soft control”- Hard control stops a request the budget cannot cover.
- Soft control sends it, or a non-PO bill, to the budget owner for review.
Requests, POs and invoices show a Budget panel with the check and what they hold.
Grants
Section titled “Grants”Each grant shows its period of performance, expended and committed amounts and drawdowns. Purchases on a federal grant get the federal contract provisions automatically.
Year end
Section titled “Year end”On the Year end tab, carry open commitments into the new year or let them lapse, for the whole set in one step.