Recording Expenses against encumbrances at fiscal year-end

We license GL, Commitment Control, AP, Purchasing, Procurement Contracts, ePro Reqs and others; Image 40, PT 8.59.03

We are a local government and our fiscal year ends June 30. During the month of July, the 'closing' fiscal year remains open for three weeks. Expenses against PO encumbrances are recorded as PO vouchers until a cut-off date.

If proper documentation for a voucher is not received by the cut-off date, expenses are accrued as journals instead of as vouchers (during the three week period in July). Associated POs are reduced to release encumbrances. The PO reduction process is labor intensive, time consuming and breaks the PO Contract audit trail.