What is sufficient funds checking?
Sufficient funds checking is an option that can be used to stop transactions from being created via documents when an account does not have enough budget or cash to cover the expense.
Sufficient funds checking can be established on an account-by-account basis using the Account document or it can be set on multiple accounts at the same time using the Global Account document.
Available sufficient funds checking options are:
- Object Code: The specific object code to which expenses are being applied is checked to see whether sufficient budget exists.
- Level: The object level with which the expense object code is associated is checked to see whether sufficient budget exists.
- Consolidation: The consolidation level with which the expense object code is associated is checked to see whether sufficient budget exists.
- Account: The budget balances of all expense object codes on the account are added up and checked to see whether sufficient budget exists.
- Cash: The cash balance of the account is checked to see whether sufficient cash exists.
- No Checking: Sufficient Funds check is turned off for this account.
How are sufficient funds determined?
Object code, level, consolidation and account checks uses available budget to determine if there are sufficient funds at the specified level:
Available Budget = Current Budget - Expenditures - Encumbrances - Pending Ledger Entries
Cash checking uses available cash to determine if there are sufficient funds
Available Cash = Current Cash Balance - Liabilities - Encumbrances - Pending Ledger Entries
NOTE: Encumbrances include pre-encumbrances, external encumbrances, and internal encumbrances.
What happens when there aren't sufficient funds?
If an account does not have sufficient funds, an error message displays in the Accounting Lines tab and lists the account (s) with insufficient funds. The document cannot be submitted or approved.
Can sufficient funds checking be done on all documents?
The following document types do not check for sufficient funds: Advance Deposit, Auxiliary Voucher, Cash Management, Cash Receipt, Credit Card Receipts, Journal Voucher, Pre-Encumbrance, and Procurement Card.
How is sufficient funds checking turned on?
The following tables need to be updated.
System Options: The Budget Checking Options Code on the Systems Options Maintenance table must be enabled in order for the sufficient funds checking to occur on transactional documents.
Account: In the Responsibility Tab:
- Select the appropriate Account Sufficient Funds Code
- Check the Transaction Processing Sufficient Funds Check
Are there any batch jobs related to sufficient funds?
Yes, there are two.
sufficientFundsAccountUpdateJob: The Chart of Accounts structure is built into the Sufficient Funds Balance table. This job checks the Sufficient Funds Balance table against the Chart of Accounts tables for discrepancies. Any differences that are detected are incorporated into the Sufficient Funds Balance table chart structure and the sufficient funds balances are re-calculated (for example, an account may have changed from account level checking to consolidation level checking). This keeps the Sufficient Funds Balance table aligned with the sufficient funds checking options established for each account.
sufficientFundsFullRebuildJob: This is an unscheduled job and when run, empties the sufficient funds balances table and repopulates the tables. This job is run when the sufficient funds balance table needs to be reset.
This job uses the FISCAL_YEAR, component SufficientFundsFullRebuildJob, parameter to determine the fiscal year that will be used to rebuild the Sufficient Funds table, this will normally be the current fiscal year.
After the sufficientFundsRebuilderJob is complete, a report is created and placed in the reports/gl directory. The report includes a detailed listing of sufficient funds errors (if any) and a summary of records read, deleted, converted or retained due to errors by the sufficient funds rebuilder process. It also records the number of entries added, deleted and updated in the sufficient funds table and the total and record counts of Sufficient Balance Table rows selected, deleted, updated, and inserted.