I’m trying to enter a refund in July for items we sent back to the vendor in June but I keep getting a “spending authority over budget” budget check error. Why?
You are getting that budget check error because expenditures for the current year are not sufficient to offset the refund. VISION allows refunds to be processed only when there are sufficient current year expenditures to offset the refund. Resolving this error is a two-step process. First, change the expense account to revenue account 485000 – Prior Year Refund of Expenditures. Second, when there are sufficient expenditures to offset the refund, you must do an ONL journal entry. The refund must be moved from the revenue account to the appropriate expenditure account, debit (+) revenue and credit (-) expense. When the ONL journal entry successfully budget checks and posts, expenditures are reduced and spending authority is increased by the amount of the refund. For more information refer to VISION Procedure #6 on the VISION website. Important note…because this refund is for an expenditure posted in the prior fiscal year, the PY prefix on the Invoice Number and PY in the Journal Class fi
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