Use this option to define the iteration containing final expenditure data for a phase from the Phases table. This option gives you a way to indicate when it is time to proceed to the next phase in your budget process.
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A final expenditure iteration must include information for all ledger accounts in the expenditure budget worksheet.
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You can see which phases have final iteration data defined by printing the Phase Table report. For more information, refer to Phases Table.
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For information on how phase records fit into the larger budget process, refer to Expenditure Budget with Iterations.
Important
Do not post the final expenditure budget to Fund Accounting until all the necessary budgetary phases are completed and closed. If you are unsure about the use of phase records in the budget process, please consult a colleague or budget administrator.
Menu Path: Budget Preparation > Entry & Processing > Budget Preparation > Budget Administrator > click Close Phase in the Budget Administrator center's Expenditure section
Closing an expenditure phase
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Select Budget Preparation > Entry & Processing > Budget Preparation > Budget Administrator to display the Budget Administrator center.
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Click Close Phase in the Expenditure section to display the Close Expenditure Phase page.
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In the Phase field, select the phase record you want to close.
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In the Final Iteration field, select the iteration containing the final expenditure budget data for the phase selected.
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Click OK.
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In the confirmation dialog, click Yes to close the phase.
A final confirmation displays to confirm the phase is closed. -
Click OK to return to the Close Expenditure Phase page.