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Former Member

Budgetary Ledger

Hi All,

we have implemented Fund Management in the system. As per our client requirement, all commitments (PR,PO and Travel request) has to appear in P&L Account. So it will show surplus or deficit after considering commitments. Client is not interested to carry forward budget to next year. What is the bestway to reflect these commitments in Financial Statments. Is it possible?

To what extent Budgetary ledger will help in this situation. Please guide me.

Regards,

Sree

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2 Answers

  • Feb 16, 2010 at 01:24 PM

    Hi,

    Commitments will appear in the P&L accounts, which are defined as cost elements, if you switch on the Commitment management in CO.

    Regards,

    Eli

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    Former Member
    Feb 17, 2010 at 04:22 PM

    Hi,

    Thanks for your reply.

    In our customized reports also we are getting this information as Commitments and Actuals but it is relating to reports. They require as those commitments has to hit GL account so when they are executing P&L Account it has to show either surplus or deficit after considering commitments. I said PO's and Travel requests are commitments only, they wont hit GL account and wont update P&L Accounts. The financial statements generated through F.01 are legally valid and approved by auditors. So they are considering the amount shown against surplus or deficit for next year budget purpose but commitments is not hitting GL account.

    Is there any way or is it possible through Budgetary ledger. Can you please explain about Budgetary ledger?

    The main objective of the client is at the year end they will consider commitments as actual items to show the correct status of the surplus or deficit of the budget.

    Regards,

    Sree

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    • Your client can always combine two pools of data and presenting it to the donors, if they choose to. However, system cannot be 'fooled' (luckily 😊) from accounting point of view, by putting commitments to G/L tables.