Use this option to define the iteration containing final project data for a phase from the Phases table. This option gives you a way to indicate when it is time to move on to the next phase in your budget process.
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A final project iteration must include information for all ledger accounts in the project 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 Project Budget with Iterations.
Important
Do not post the final project budget to Fund Accounting until all the necessary budgetary phases are completed and closed. If you are unsure about your organization's 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 Project section
Closing a project 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 Project section to display the Close Project 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 project 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 Project Phase page.