Budget edits processing
Budget edits use the posted transactions, new and existing commitment, and encumbrance records, to arrive at an accurate remaining balance of your budgeted funds. Transactions are edited against the budget based on the commitment or encumbrance date.
During budget editing, budgets are compared against actuals, commitments, and encumbrances with any of these formulas:
- Transaction Amount + Total Obligations <= Budgets * [1.0 + (Percentage Tolerance/100)]
For example, if the budget group has a budget of $10,000, and you specified 10% in the Tolerance Option field, then the total available budget for editing is $11,000. Therefore, the sum of Transaction Amount and Total Obligation can exceed $10,000 up to $11,000.
- Transaction Amount + Total Obligations <= Budgets + Amount Tolerance
For example, if the budget group has a budget of $10,000, and you specified 500 in the Tolerance Option field, then the total available budget for editing is $10,500. Therefore, the sum of Transaction Amount and Total Obligation can exceed $10,000 up to $10,500.
The total obligations are calculated with this formula:
- Total Obligations = Commitments + Encumbrances + Released Journals + Posted Balances