Create Allocations

The fund allocation allows you to create and post fund reservations and usage, by distributing the committed funds based on the agreements and conditions. Posting these fund reservations, results in creating fund ledger entries. It is possible to reserve from project or contract level. To create allocations, go from Project -> Actions -> Fund Allocations.

General

The General fast tab shows information regarding the reservation and usage for the project or contract, depending on what level you select to do the process.

Reservation

• The Budget Amount (LCY) shows the budgeted amount to be reserved, in local currency. This includes already reserved amounts. This field can also be updated manually.
• Fields Amount to Reserve (LCY) and Reserved (LCY) show respectively the amounts to be reserved, and currently reserved in local currency.

Usage

• The Usage Cost Amount (LCY) shows the total cost amount of usage to be posted, in local currency. This includes usage already posted towards commitments.
• Fields Amount to Use (LCY) and Usage Posted (LCY) show respectively the amounts to be used, and the amounts used and posted, in local currency.

Filter Options

For some projects, only certain types of usage can be funded. By limiting the types of expenditure when allocating funding, it can be ensured that funds are not spent on disallowed expenditure.

It can be defined on each allocation whether certain kinds of usage are excluded. As the usage must be backed by reservations, the limitations must also apply to the budget amount.

• Basic A number of filter fields are shown which can be used to filter in the most common scenarios. The fields are: Exclude Resources, Exclude Items, Exclude G/L Account, Task Filter
• Advanced The field Included Budget will show a summary of the filter defining the allowed usage. Drill-down of the Included Budget field opens a filter page where the fields of planning lines (budget entries for PGS) can be selected and filtered. The field Included Usage will show a summary of the filter defining the allowed usage. Drill-down of the Included Usage field opens a filter page where the fields of a job ledger entry can be selected and filtered.

The Included Budget filter is applied when getting the budget amount to the allocation. The Included Usage filter is applied when getting the usage amount to the allocation.

Create and post reservation lines

A fund reservation is a process by which a specific amount of funds is set aside for a specific project or contract, without actually transferring the funds. It is a temporary hold on the funds, which ensures that they are available when needed for the intended purpose.

To create reservation lines, you can take from a fund, a funder, a specific commitment entry no. or a mix of all the above. This depends on the certain conditions or expectations. Reservation Lines are created to cover and match the budget on the project/contract.

• To create a new line, select either a Fund No., Funder No., Commitment Entry No. or a mix of all these fields, based whether you want to take money from the fund, funder, or a specific commitment. Based on these, the field Avail. to Reserve (LCY) is updated with the amount available to reserve on commitments.
• Select the Reserv. Method which specifies the field that is updated for every budget change. If by amount, the % of budget is updated. If by %, the amount to reserve is updated.
• Set % of Budget if the reservation method is by “%” which specifies what percentage of the budget should be reserved.
• Set the Amount to Reserve (LCY) if the reservation method is by amount which specifies the amount to be reserved, in local currency. This includes already reserved amounts.
• Post the reservation lines from Actions -> Reservation -> Post Reservations. Notice that Reserved (LCY) field is updated with the posted amount in negative sign.

Create and post Usage

After the reservation lines are posted, you can post the usage. The Amount to Use (LCY) is the same as the reserved amount.

• Post the usage lines from Actions -> Usage -> Post Usage. Notice that Usage Posted (LCY) field is updated with the posted amount in negative sign. If posting usage to G/L is active on Funding Setup, the same amount will be posted to general ledger according to the accounts set in Fund Posting Setup.

Reverse usage and reservations

Reversing a fund reservation in fund management means releasing the funds that were previously set aside or reserved for a specific project/contract. This can happen for various reasons, such as:

1. The original purpose for which the funds were reserved is no longer relevant or necessary.
2. The project for which the funds were reserved is cancelled or delayed.
3. The fund manager identifies a better investment opportunity for the reserved funds.

Once a fund reservation is reversed, the funds become available for other investments or purposes, depending on the fund’s investment strategy and objectives.

Reverse usage

1. To reverse the usage entries, go to Actions -> Usage -> Reverse Usage.
2. Posted usage is reversed, positive fund ledger entries are created.
3. If Post usage to GL is active, the reversal is created for the general ledger too.

If you want to reverse the usage on one of the funds, not all, set the Total Amt. to Use to 0 and post.

Reverse reservation

1. To reverse the reservation, go to Actions -> Reservation -> Reverse Reservations.
2. Reservation is reversed, positive fund ledger entries of type reservation are created.

If you want to reverse the usage on one of the fund reservations, not all, set the Total Amt. to Reserve to 0 and post.

Edit in Excel

This functionality streamlines the process of modifying reservation lines and brings greater efficiency to the fund management process in our application.

1. From Fund Reservation Lines -> Edit in Excel.
2. An Excel file is opened, and the lines can be updated from there.
3. After updating the lines, publish the changes, and they will be published in Fund Reservation Lines.

Batch Posting Allocations

You can batch-post allocations for all projects from the Fund Allocations list, selecting multiple projects for reservation and usage posting. If any posting encounters issues with a particular project, a list of errors will be provided to help identify and resolve the related project or lines.