How You Define the Funds Reservation Point for Purchasing Documents
Good day, everybody! Today I am starting a #30daychallenge for writing posts in Medium about everything that I know in Oracle Fusion Applications.
The length of the posts will not matter as I am planning to write every day, hence short articles will be preferable.
So let’s jump into the article straight away:)
Today I will show you how the Fund Reservation point is defined in Oracle Fusion Applications? If you are confused with the meaning of why funds are reserved, then please leave a comment on this post I will write a separate article on this subject with a thorough explanation.
Fund Reservation Point for Purchasing Documents
You can use budgetary controls to select the point in time at which funds are reserved for requisitions and purchase orders. Enable funds to be reserved at document submission or upon completion of approvals. I will show you now how to do this setup.
Find the page from the Setup and Maintenance work area, Financials offering, Budgetary Control and Encumbrance Accounting functional area, Manage Budgetary Control task.
You define the funds reservation point for documents at the business unit level. Select Business Unit and appropriate Ledger:
In the Procure-to-Pay Business Functions section, you can set the reservation point for the Requisitioning and Procurement business functions. For a business function, set the reservation point to one of these options:
- Submission: Funds reservation is done at document submission.
- Approval: Funds reservation is done at the completion of document approval.
The first article has come to an end:) Have a very safe and productive day❤️ Hope to see you tomorrow on the second day of my #30daychallenge.
If you are not sure what to read next, here is the next article for you:
I am an Oracle Functional Specialist with more than 6 years of experience. I help clients to understand software capabilities and to analyze business needs. My main goal is to recommend solutions and ultimately guide through all phases of Oracle Cloud Applications. I am also inspired to write about life, improvement and personal growth.
