PURCHASE ORDER (PO)/VOUCHER ACCOUNTING CHANGES
Currently, there are no budget changes to your FRS accounts related to POs (because we do not use POs in FRS) or vouchers until Accounts Payable keys them into the system. This will change in WFS. Each PO and voucher will have a “Save & BudChk” button at the bottom of the page.
PO
Voucher
The “Save & BudChk” process will reduce (encumber) your budget by the amount of the PO or voucher. As a result, your budget will be more accurate indicating available spending. Note that a voucher created by a PO will not encumber the budget twice. Encumbrances change to expenses when Accounts Payable approves the voucher. As a reminder, after you “Save & BudChk” you will need to “Save & Submit” to finalize the process.
What happens if you do a budget check and you get a message that there is not enough budget? That will be answered in an upcoming post.
If you have questions on the Wesleyan Financial System, please e-mail wfshelp@weselyan.edu. We will answer questions through future blog postings or through direct response to the sender.