Checking Funds for Invoices (Oracle Payables Help)


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Checking Funds for Invoices

If you use Budgetary Control, you can use the Funds Check feature to check if you have sufficient budgeted funds to pay for an invoice or an invoice distribution. You can manually check funds for invoices or invoice distributions in the Invoices window. Payables does not reserve funds for the invoice when you check funds; it reserves funds during Approval. See: Encumbrance Entries in Payables.

When you check funds for an invoice, Payables totals distribution amounts by account and checks if any of these totals exceed available funds. When you check funds for a distribution, Payables checks if the distribution amount exceeds available funds for the distribution account. If an account fails funds checking, the entire invoice fails funds checking.

If you use Absolute budgetary control, and you do not change the account or increase the budget for a distribution that fails Funds Check, Approval will place an Insufficient Funds hold on the invoice. You can manually release this hold.

If no budget exists for the account, or the invoice account does not match the purchase order account, or the detail account is not assigned to a parent account, you must fix the account or Approval will place a Can't Funds Check hold on the invoice. You cannot manually release this hold; you must resolve the underlying account problem and then resubmit Approval. See: Releasing Holds.

Checking Funds for Invoices and Distributions

Prerequisites

Setting Up Budgetary Control

To check funds for an invoice or an invoice distribution:

1. Select the invoice in the Invoices window, or select the distribution in the Distributions window.

2. From the Special menu, choose Check Funds. Payables displays a message indicating if your selected invoice or distribution passed or failed Funds Check.

Budgetary Control Transactions window. You can either change the account to one with adequate funds (for non-purchase order matched invoices), or you can increase the budget amount for the account.

Checking Your Current Budget

You can review funds available for an account in the Funds Available Inquiry window in General Ledger. This window shows how your expenditures (pre-encumbrances, encumbrances, and actual expenses) compare with your budgets. You can inquire on available funds only at the detail level and only in your functional currency.

To check funds available in the Funds Available Inquiry window:

Choose Inquiry:Fund from General Ledger's Navigator. See: Viewing Funds Available.

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