The account inquiry function permits you to call up and view actual, budget, and encumbrance account balances for any of your 24-digit accounts. Account balance information changes throughout the month and is available to you on-line as soon as transactions are posted to the general ledger.
At the end of this lesson, you will be able to perform an actual on-line account inquiry in the Oracle RIT General Ledger application.
Directions: Perform an On-line Inquiry
- Log onto the system now. All of the responsibilities assigned to you appear on your home page.
- From your list of responsibilities select the “RIT – GL – COS RPT & INQ – 67000-67099” responsibility.
NOTE: In order to access functions assigned to another responsibility, you must select that specific responsibility on the Responsibilities screen.
- From the “Inquiry” menu listed to the right of the list of responsibilities, click on “Account”. (The list on the right side are the Functions contained within the Responsibility).
- The Navigator – RIT – GL – CO RPT & INQ – 67000-67099 screen will appear first. The Account Inquiry (RIT) window will open automatically on top of your Navigator screen.
- The Account Inquiry (RIT) form is used to access information about a specific 24-digit account number or a range of accounts within the user’s responsibility for a specified period.
- The Ledger Name and Currency will always be “RIT” and “USD”
- Press the Tab key to move the cursor to the “From” field in the “Accounting Periods” section of the screen.
- Click once on the LOV field to the right of the “From” field.
- Scroll down to find “JUN-15” in the “From Periods” list of values.
- Click once on “JUN-15”
- Click once on the “OK” button.
• The same period will populate both the “From” and “To” fields.
NOTE: You can inquire into an accounting period that spans several months by entering the desired range in the “From” and “To” fields.
- Press the Tab key once and see that there is a dotted outline box around the Currency “Type” field. This is preset continue.
- Press the Tab key once you will see there is a dotted outline box around the “Entered” field. There is no data in this field. This is preset continue.
- Press the Tab key once.
There are three Balance Types to choose from: Actual, Budget and Encumbrance. In this class, we will cover the process for reviewing an Actual balance, since this is the option used most frequently. A brief summary of steps to follow in order to view a Budget balance and/or an Encumbrance balance is provided below.
Actual Balance: The amount expended on a particular account line, for the selected period, at the time you are making your inquiry.
Budget Balance: The amount of funds budgeted on a particular account line at the time you are making your inquiry.
To make a Budget Inquiry, under Primary Balance Type select “Budget”. The cursor will automatically move to the blank “Budget” field. Use the LOV to the right of the “Budget” field to select the appropriate budget organization from the list of values that appears. Highlight your choice, click once on the “OK” button.
Encumbrance Balance: The amount of funds reserved for future expenditures, at the time you are making your inquiry. There are 4 encumbrance types that RIT currently uses.
- Commitment: A commitment encumbrance entry is made automatically when a purchase requisition is approved. It is reversed when the requisition becomes a purchase order.
- Obligation: An obligation encumbrance entry is made automatically when the purchase order is approved. It is reversed when the purchase order is either matched to an invoice or the purchase order is cancelled.
- Invoice: An invoice encumbrance entry is made when an invoice is matched against a purchase order at the time the invoice in entered in Accounts Payable. It is reversed when the invoice is paid.
- Manual: An encumbrance entry created by the user within the Oracle Financial Applications. When the actual expense is charged to the general ledger the user must prepare another entry to reverse the encumbrance entry.
To make an Encumbrance Inquiry, under Primary Balance Type select “Encumbrance”. The cursor will automatically move to the blank “Encumbrance Type” field. Use the LOV to the right of the “Encumbrance Type” field to select the appropriate encumbrance type from the list of values that appears. Highlight your choice, and click once on the “OK” button.
- The system defaults to Primary Balance Type “Actual” Notice a small dot appears inside the radio button beside the word meaning this option is selected. You are now ready to enter the account number for your inquiry.
- Press the Tab key three times to skip over the Factor and Summary Template fields, to arrive at the next field called “Accounts”.
- Enter the 24-digit account number(s) by segment into the Find Accounts screen pop-up window. Enter each segment of the account number into a blank field on this screen. Notice that the system automatically repeats the entry under the High column. To reach the next blank category field, press the Tab key.
- Enter the following information under the Low column in the Find Accounts screen:
- -Entity: “01”
- -Department: “67000”
- -Object: “73150”
- -Expense Category: “25”
- -Project: “00000”
- -Program: “00000”
- Click on the “OK” button.
- The account number now appears in the “Account” field on the Account Inquiry screen
You are now ready to view the balance for the account number you just entered.
NOTE: You may inquire on a range of account numbers by entering the appropriate values in the Low and High columns. However you can only see what the security rule for your responsibility allows you to see.