Prepare a budget, approve the exact version and reconcile planned amounts with posted Accounting entries and open commitments.
Compare posted actuals and open commitments#
For a company-wide budget, posted actuals include the exact approved account and dates in the book currency. Expense actuals use debits less credits, and income actuals use credits less debits. Post or reverse entries through Accounting when the books need correction.
Record a pending expense commitment with its source reference, expected date and amount. Keep it separate from posted actuals and close it with a reconciliation reference once it is cancelled or accounted for. Purchasing orders are reconciled manually in this release.
From an eligible approved company-wide comparison, choose Review posted journals for this account and period to open the original entries in Accounting. Accounting checks the current workspace, permissions and source scope.
Purpose and workspace access#
Plan exact account budgets, approve versions and compare posted actuals and open commitments.
Available in Corporate workspaces. Confirm the active workspace before entering or sharing records.
Keep the active workspace, actual business requirements and current setup summary in view. A guide explains a choice; it does not make that choice for you.