Page Comparison

Why were BUA journals (budget amendment) created at year end close? The amendment has a Comment of " ENCUMBRANCE CARRY FORWARD XXXX (year)"

• Munis
• Year End Close
• Open New Fiscal Year
• Budget Carry forward Method 3 - GAAP/Budgetary combined
• Version 11.3 and prior

"Create Carry Forward budget amendments for Carry Forward POs/Contracts " option was selected during the Open New Fiscal Year Process.

1. When using the Budget carry forward method of 3 - GAAP/Budgetary Combined, the system will carry forward an open encumbrances at year end within the same expense account. It will close them out using a YEC (Year End Close) journal in the year being closed and bring them forward using a SOY (Start of Year) journal in the new year.
2. In GL Settings > Budget Settings a check box for ' Create Carry Forward budget amendments for ' Create carry forward BUA at end of year' will determine whether or not the system will create a carryforward Budget Amendment for the amount of the encumbrance being carried forward.
3. If checked, the BUA will be created. If unchecked, the BUA will not be created.
4. If unchecked MUNIS will also NOTE create the Year end close 'close  RECLASSIFY Journals'. See Journals were not created during year end close for more information on this. 
5. Please see the Budget Carry Forward Methods document for further explanation.