budget for Purchase requisition

[Former Member]

Hi everybody,

Is there anyways that a budget can be done for balance sheet items?

Scenario:

Each and every purchase requisition raised should check for the available budget.

Budget can be done for the P&L items through internal order likewise is there any possibility of doing the same for the inventory accounts

[Former Member]

Hi

We have the same scenario.Generally for capital asset or high value items, budget approval is required.Budget approval is confirmed from finance people.

If the PR needs budget approval, then follow Work flow procedure for release the PR. Assign the release points as finance people.A mail will automatically go to the finance controller and get it approve from them.

Then make the PO for the asset.

What I've suggested is MM point of view.

Consult an FI consultant for Budget Approval.

Thanks & regards

Pranaya

[rwarri1]

Hi,

I think you will need "Funds Management".

Cheers !

[Former Member]

Hi

I got to know somehow that budgeting is not possible for balance sheet items(inventory) but i could not get the reason for it.

do u have any idea regarding that?

can u tell me the way to make a purchase requisition check for the budget without internal order or going for project system.

bcoz if we use internal order then that will become an account assigned PO when converted and stock will not be updated upon GR.

My client wants stock to be updated upon Gr and at the sametime budget should be checked while making PR.

any help regarding how to achieve this or reason for not able to achieve this will be helpful and rewarded.