Closing Purchase Orders at year end

What impact does closing purchase orders have before year end?

Munis

Year-End

Functionality 

• Current year purchase orders can be closed if they are done being used before next year opens
  • This would put any open encumbrance amount back onto the current year available balance
• If current year purchase orders carry forward, any open amounts on those POs will carry forward into the next year encumbrance
  • If there comes a time to close those now carry forward POs, that can be done in the new current year and will put the encumbrance amounts onto the new current year available balance

Auto-decrease CFWD budget and Auto-increase CFWD budget Purchasing Settings may impact how the closed amounts are put back into the available balance