3:10 Budget Checking

Organisations are increasingly looking for a fully integrated budgetary control solution to work alongside their procurement process. PECOS P2P provides a budget checking system that can be implemented as an integrated solution. If Budget Checking is implemented, additional approval steps may be required as part of your organisation’s budgetary control process.

The requirement for budgetary approval is based upon financial availability at line level and is provided through Order Request and Change Order Plans, with steps placed at the end of these workflows. A user is assigned as the Budget Owner for each budget line and will automatically fill the role of the budget approver. Each order request is sent to all users who are identified as budget owners and will not be released for purchase order creation and transmission until all budget owners have completed their approval activity.

If you are the budget owner you will have the following options during approval:

• Approve. A purchase order is created and presented for transmission. A commitment is registered against the budget and will update availability for future requisitions.
• Reject. The order request is returned to the requisitioner with a mandatory comment.
• Edit. The order request can be fully edited based on the permissions granted by the approval plan configuration.

Further and more detailed information for Budget Checking is provided in the ‘PECOS P2P Budget Checking Manual’.