Discover how to allocate money to your fund.
Before you can commit expenditure or spend against an account instance, you must first allocate a budget to it. This is done by entering an allocation transaction record against the account instance.
- Go to Funds>Account Transactions and click New Record.
- The Transaction type defaults to Allocation and the relevant fields are displayed to enter details of the fund allocation.
- Click Credit account to select the relevant account instance you want to allocate funds to.
- Enter your fund in the Allocation amount field. The transaction is automatically Authorised by the user you are logged in to OLIB as, and dated to the system date.
- Enter a note if required, and save the new transaction record. The allocated funds are available immediately for expenditure commitment and invoicing.