Transaction Budget Date falls outside of date range across all control budgets checkbox

Summary:

Transaction Budget Date falls outside of date range across all control budgets checkbox functionality

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Hi All,

In Budgetary Control and Encumbrance Accounting setup, we have this checkbox - Transaction Budget Date falls outside of date range across all control budgets.

There is no complete information about this checkbox and need some information on this.

If this is not checked, does that mean Budget validation will not check whether Budget Date falls within open budget period.

Means even if Budget period status is closed, transaction will pass the budget validation ?

Also, In our current setup this is turned on, can we turn it off now? We are getting this Warning message while trying to turn it off - "Changing the budgetary control or encumbrance accounting settings may invalidate the existing data for the ledger. Do you want to continue?"