Description
Master the use of encumbrances to manage expenditures and control budgets with this MIP Accounting® training. Learn how to encumber funds, review balances, and liquidate encumbrances manually or through accounts payable invoices. This course also covers checking available budget balances and running essential encumbrance and financial reports to enhance budgetary control.
By the end of this session, you will:
- Enter manual encumbrances
- Check encumbrance and budget balances during expenditure transactions
- Manually liquidate outstanding encumbrances
- Liquidate encumbrances through accounts payable invoices and cash disbursements
- Generate Encumbrance Aging reports and other key Encumbrance Reports
- Run Revenue & Expense Reports that include encumbrances