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author's profile photo Former Member
Former Member

Commitment balances vs GL balances

Hi,

Subsequent to FMVT I got down to verifying the Fund balances to that of GL balances. Below are the reports which I intermittently used :

1) FMRP reports - FMRP_RFFMTO10X(total records) / FMRP_RFFMEP1AX(Line Items)

2) FAGLL03 / FAGLB03 - for GL balances

The FMVT does not extract all of the commitment item balances, for the given fund and period. For eg. for a fiscal year c/f fund balance report has about 16 Balance sheet accounts whereas the financial statement extract for the same period has about 282 GL balances!

The mapping of GL to commitment item is 1:1 and there is no GL account which does not have have a commitment item. I also checked few documents line items. Those documents had commitment item field populated.

Why FMRP reports not showing all of the commitment items? We are on EA-PS 60405

Any help is appreciated.

thanks,

Nate

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3 Answers

  • Best Answer
    Posted on Jul 20, 2011 at 11:19 AM

    Hi,

    You can compare FM reports with G/L only if the commitment items in question are properly defined and posting on them generates FM document. For example, if you define commitment item with FI transaction other than '30', no FM document will be created. Normally, full reconciliation between FM and FI could be achieved only with budgetary ledger. Otherwise, you will have to combine several reports in order to see equal amounts.

    Regards,

    Eli

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 20, 2011 at 10:05 PM

    Hi,

    I do not think that is the way it works. FMVT is to sumarize FM actuals and carry forward it to the new year under a fund balance CI, something similar to a retained earning account. So, reconciliation is more a comparison between FI retaind earning and FM fund balance CI. They may not be exactly the same depending on the accounting principle you are using.

    Regards,

    Ming

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  • author's profile photo Former Member
    Former Member
    Posted on Jul 19, 2011 at 10:36 PM

    I guess this maybe because of the 000102 udpate profile, with payment budget configuration in place. Please let me know if any of you disagree and can pin-point to any other cause.

    Thanks.

    Nate

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