What is the result of a successful funds check for a PR subject to approval workflow?

What is the result of a successful funds check for a PR subject to approval workflow?

• A. The PR gets canceled
• B. The PR is set to blocked status
• C. The PR posts, and funds are committed
• D. The PO is automatically created

Answer: (C)

The result of a successful funds check for a Purchase Requisition (PR) that is subject to an approval workflow means that the system has confirmed that there are sufficient funds available for the requested purchase. When this check is successful, it indicates that the financial resources required to complete the transaction are secured, allowing the procurement process to move forward. In this case, the system will post the PR, which signifies that it has been officially recorded within the financial system, and subsequently, funds are committed against the PR. This commitment of funds ensures that the organization has allocated the necessary financial resources to fulfill the purchase, thereby authorizing the expenditure in accordance with budgetary constraints and financial policies. This demonstrates the importance of a successful funds check, as it verifies budget availability and tracks financial accountability before any actual spending occurs. The subsequent processes can then continue, enabling efficient procurement and ensuring compliance with fiscal responsibility.

The result of a successful funds check for a Purchase Requisition (PR) that is subject to an approval workflow means that the system has confirmed that there are sufficient funds available for the requested purchase. When this check is successful, it indicates that the financial resources required to complete the transaction are secured, allowing the procurement process to move forward.

In this case, the system will post the PR, which signifies that it has been officially recorded within the financial system, and subsequently, funds are committed against the PR. This commitment of funds ensures that the organization has allocated the necessary financial resources to fulfill the purchase, thereby authorizing the expenditure in accordance with budgetary constraints and financial policies.

This demonstrates the importance of a successful funds check, as it verifies budget availability and tracks financial accountability before any actual spending occurs. The subsequent processes can then continue, enabling efficient procurement and ensuring compliance with fiscal responsibility.