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iProcurement Checkout - GL Date field and Finance Options for Encumbrance

GL Date on iProcurement Requisitions is dependant upon the settings for encumbrance in the Finance Options form, Encumbrance tab. If the options are not checked in this form, the date field does not render.

Here are the definitions and the probable logic:

REF: Doc ID 1496106.1
Automatic Updates to General Ledger (GL) DateRequesters can specify the GL date (encumbrance date) for each distribution against a line at the time of creating purchase orders. If the value of the GL Date is invalid, for example, the date is in a closed GL period, or in a period that is not yet open, then the application automatically defaults the GL date to the system date if the current period is open. To use this feature, the value of the PO: Validate GL Date Period profile option must be set to the newly introduced Redefault value.

An Encumbrance is the name given to funds that have been reserved when a purchase requisition is finalized and encumbered. When a requisition is processed, funds are placed aside for that transaction. 

Those funds are no longer available for use in other transactions, but also have not been included in the Actual Funds balance because a payment has not yet been generated and the funds have not physically left. The purpose and main benefit of encumbrance accounting is avoiding budget overspending.

So if the Encumbrance for requisition is not enabled then there would be no meaning of specifying a real GL Date as there will be no reserved funds when system is going to take up the entries of the REQ->PO to accounting and it might end up in over budget too.


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