Review The Current Open Purchase Order Encumbrances Report (FIN065)

LAST UPDATED: July 8, 2016

What You Should Know

The Current Open Purchase Order Encumbrances report (FIN065) provides users with a sortable list of all open purchase order encumbrances, liquidations and remaining encumbrance. This report is stored in the Buy and Pay folder and drills to the Purchase Order Detail (FIN040) and Payables Detail (FIN041).

Using the report prompts, a user can view the following information:

  1. All Open POs, their associated vouchers and accruals through current date or through a specific date.
  2. All POs in a single or group of departments
  3. Review a single PO
  4. Sort by purchase order or sort by chartstring
  5. Confirm vouchers which are approved and scheduled to be paid or are paid for a particular purchase order
  6. Drill to requester, receiver, and purchase order/invoice images

Sorting and Outputs

This report provides a sorting feature which allows you to see the report output organized by purchase order or by chartstring.  

The HTML and PDF views provide information summarized by purchase order or ChartField value.  

The View in Excel 2007 Data and View in CSV format options provide additional columns including the Purchase Order Line, Document Type (Purchase Order, Voucher, and Receipt), Voucher Number, Voucher Line, Invoice Number, and Supplier ID.

Account
The Account Tree prompt can be used to view purchase orders associated with specific accounts, such as all subcontract purchase orders. Use the Account Tree prompt to view purchase orders against specific Account groups such as revenues, expenses and assets.

Report Drills
Click on the Purchase Order ID to drill to the Purchase Order Detail (FIN040). Click on the Voucher ID to drill to the Payables Detail Report (FIN041).  

Known Issues

We are aware of a limited number of converted and/or rolled purchase orders whose encumbrance balances may differ slightly from the encumbrance balance on the Spendable Balance and Account Summary report. The FIN065 accurately represents encumbrances and should be used for open purchase order review.  

After You Review Purchase Order Encumbrances

This report will return all currently open purchase orders. This report may be used for budget planning (to see what amounts have been set aside for certain purposes but not yet paid) or to identify purchase orders that are open and need to be closed.

Note: A purchase order line should be closed if all items have been received for that line. If items still need to be physically received, the purchase order should not be closed. If receiving is incomplete in Prime Financials, complete receiving before moving forward, as this often will close the purchase order without any other intervention.

If a purchase order has been identified on FIN065 that you expect to have been closed (fully received within Prime Financials, no future deliveries/services are expected, all invoices have been processed and payments scheduled), next steps will depend on how the purchase order was created:

If the purchase order was initiated through the Prime Marketplace OR if the purchase order is from a previous fiscal year (opened prior to July 1 of the current fiscal year), please contact the Financial Service Center at finance@princeton.edu with the purchase order numbers to be closed. These purchase orders will be closed by Procurement Services.

For all other purchase orders that you wish to close, edit the purchase order by creating a PO change request. A step-by-step for creating PO change requests can be found in the Step-by-Step library. Please note: a PO change request will result in an update being sent to the supplier, informing them of the new amount and/or quantity of the purchase order. Once a purchase order is fully matched for all items and/or amounts, the purchase order will automatically be closed by the system.

Examples of Purchase Orders that should be closed by initiating a change request:

  • Blanket orders, or amount-only requisitions where you estimated an amount when initially submitting the requisition and now must change that to the actual amount billed. For example, you may have estimated spending $100,000 on a service, but the service was actually billed at $96,000. The change order should reflect that the entire PO amount should be changed to $96,000.
  • Quantity change where you accepted a lower quantity than originally ordered. For example, you ordered 10 items. 8 items were shipped, but 2 are on backorder and you have decided not to wait for the last 2 to return to stock. You should now edit the purchase order to 8 items, officially communicating to the supplier that you do not wish to wait for the last 2 backordered items to return to stock.
  • Quantity change when you estimated an amount when initially submitting the requisition and now must change that to the actual amount used and billed. For example, for temporary staffing, you estimated a project would take 100 hours. However, only 92 hours were used. You should submit a change request to reflect the actual number of hours used.

How to use change requests to effect a purchase order close:
(Note: A purchase order will not close if there are existing match exceptions. Always first check for match exceptions before beginning a change request.)

  • If a quantity remains on the purchase order, preventing purchase order close, you can submit a change request to reflect the actual quantity received. This means that any outstanding quantity from this purchase order will be canceled with the supplier.
  • If a dollar value remains on an amount-only purchase order, preventing purchase order close, you can submit a change request to reflect the actual amount invoiced and received. This means any outstanding balance from this purchase order will be canceled with the supplier.
  • If there is another issue preventing the purchase order from automatically closing, please contact the Financial Service Center at finance@princeton.edu with the purchase order numbers to be closed. These purchase orders will be closed by Procurement Services.

FIN065 will not give any information on purchase orders that are already closed. If information on closed purchase orders is needed, those purchase orders can be researched directly in Prime Financials or in other reports as follows:

  • For purchase order detail: FIN038 - PO Summary, and FIN040 - PO Detail
  • For payment information: FIN039 - Payables Summary, and FIN041 - Payables Detail

 

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