- Why were BUA journals (budget amendment) created at year end close? The amendment has a Comment of ENCUMBRANCE CARRY FORWARD XXXX (year)
- Carryforward budget amendments were made at year end, how to I stop this?
- Year End Close
- General Ledger Settings
- Budget Carry forward Method
Budget Carry forward method of 1 - GAAP was selected in General Ledger Settings.
When using the Budget carry forward method of 1 - GAAP, 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. The system will also automatically create a carryforward Budget Amendment for the amount of the encumbrance being carried forward.
With regards to budgeting for the new year, those carry forward amounts should be omitted from the projection being created to ensure that the amount is not duplicated. If the budget amendment needs to be reversed, it can by entering another budget amendment using Budget Year Code (2 - carry forward).
Add Comment