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The Most Common Questions/Errors: Budget Checking Errors

Learn how to avoid budget checking errors and resolve common issues like exceeding budget tolerance or missing required key chartfields. Understand the importance of budget checking procedures to ensure financial accuracy.

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The Most Common Questions/Errors: Budget Checking Errors

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  1. The Most Common Questions/Errors:Budget Checking Errors

  2. Budget Checking • The best and easiest way to avoid budget checking errors is to view the Budgets Overview inquiry page. • Budget checking actually performs two tasks: • Transaction Edit Check • Transaction Budget Check • Edit Check is performed first. If it fails, Budget Check will not happen. • Edit Check ensures that all combination edit rules are satisfied.

  3. Budget Checking • Edit Checking rules also apply to budgets. So if you check the Budgets Overview and a budget exists, chances are you will not get an edit error. • Some transaction Chartfield Combinations do not have budgets. However, they must still have a valid budget checking status before they can be further processed. • Some transactions affect multiple commitment control ledgers. They must pass in each ledger that they affect.

  4. Budget Checking • To view your Budget Checking error:

  5. Review Budget Check Errors • Navigation: Commitment Control > Review Budget Check Exceptions > Purchasing and Cost Management > Requisition • Good tool for someone other than the Requester

  6. Budget Checking This error occurred because the end date of the project has passed. It affects two ledgers groups.

  7. Budget Checking • Common Budget Checking Errors: • Exceeds Budget Tolerance • You’re trying to spend more than the available balance of your budget. • Budget Tolerance = $0.00 • Notice which ledger group(s) you are exceeding. • A Budget Transfer can be requested to move funds from another account (e.g. 600000-Travel to 700000-Operating Expense). • Error can be overridden in rare circumstances with proper procedures and approvals.

  8. Budget Checking • No Budget Exists • Check the chartfields to make sure each was entered correctly. • Notice the ledger group(s) where budgets must exist. • Review Budgets Overview to see what budgets do exist for the department or project. • If all chartfields are correct, request budgets from the Budget and/or Sponsored Program Administration office. • This error cannot be overridden.

  9. Budget Checking • Budget is closed/Budget Date Out of Bounds • This usually means that the Transaction Date is not within the Start Date and the End Date of a Project/Grant. • This often affects both the PROJ_GRT and PRMST_EXP ledger groups. • Financial Accounting or Sponsored Program Administration can extend the dates of the Project/Grant, if appropriate and authorized. • This error cannot be overridden.

  10. Budget Checking • Required Key CF is Blank • This error occurs when a chartfield that is required by the budget definition is left blank. • The transaction has passed all Combination Editing rules. • The transaction has not passed Budget Ledger Group Definitions. • This error cannot be overridden.

  11. Budget Checking • Required Key CF is Blank

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