Understanding Commitment Control Accounting in PeopleSoft Billing
Use commitment control accounting to budget check revenue transactions against revenue budgets and update those budgets accordingly. For the revenue budget, commitment control accounting enables you to track the budgeted, recognized and collected revenue amounts. When a revenue budget has an associated expenditure budget, revenues can increase the available spending authority of a particular expenditure budget.
The revenue side of commitment control accounting focuses on budget tracking as opposed to controlling the flow of transactions and preventing operational losses. The system updates revenue budgets resulting from budget checking. These updates are to internal accounting data only and do not affect the customer invoice.
Revenue entries from billing transactions increase or, for adjustments, decrease the recognized amount of the revenue budget. Only revenue, discount and surcharge, InterUnit expense, and statistical distribution accounts are budget checked for control.
To budget check an invoice in PeopleSoft Billing:
-
Set up the budget checking options.
-
Enter the bill online or through the Billing Interface.
-
Run the Pre-Process & Finalize process (BIIVC000).
-
Run the Billing Currency Conversion process (BICURCNV).
-
Run the Billing Pre-Load process (BIPRELD).
Correct errors that are generated during the Pre-Load process. Use the Staged Acctg Entries component to correct ChartField errors that are generated.
-
Run the Load GL Interface process (BILDGL01).
-
Run the Comm. Cntrl. Budget Checking process (FS_BP).
-
Correct errors on any accounting entries that fail budget checking.
Correcting the errors changes the budget checking header status from E (error in budget checking) to N (not budget checked). The transactions are then ready to resume processing. When transactions pass budget checking, they can be processed by the Journal Generator.