ReQlogic Budget Module Question

bjwjmmba1

Again, I am analyzing options to implement requisitions in NAV in a user friendly manner and ReQlogic is another of the software packages we are looking into. Does anyone have first hand knowledge on whether the Budget Module works with the NAV Budgets or not? The documentation that I have is a little IFFY on whether or not it will work with NAV. What it DOES say is this:
"Budget Control Module
This module allows for budget checking in the following ways:
against the Project Budget (for Dynamics GP and SL),
against the general ledger (GL) budget using Encumbrance Management (GP)) or
against the ReQlogic budget only.

The latter allows the creation of unique purchasing budgets, which can be defined by a wide variety of criteria including but not limited to GL Account, Sub Account, Department, Project, Task/Cost Category, Item id, Item Class, Vendor, Vendor Class, User id and Site ID. In addition, up to 8 user-defined fields can also be added to the criteria.
A budget may be based on a dollar amount, a quantity or both. Budgets are time sensitive, and may be defined at an annual level, at a period level, or both. A calendar is provided so a period can be defined as any period of time.
Regardless of the source of the budget there are two different levels of enforcement; no enforcement or a warning only. With the ReQlogic budget there is an additional rejection message. Even if a budget is defined with no enforcement, or with a warning message only, the reviewers will know that a particular requisition line is over budget, by means of a visual cue. They can then make a decision to either approve or reject that line.
Budget commitments may be used as routing criteria by the Advanced Routing engine."

Any information will help!

Thank you!

Karen_ReQlogic

Hello bjwjmmba1,

Because Dynamics NAV doesn't have a Committment feature, checking against the available budget in NAV would not be accurate, since it does not take into account any transactions that are not yet posted to the General Ledger (e.g., purchase orders, receipts, invoices, journal entries).

For this reason, ReQlogic allows you to import your Dynamics NAV budget into ReQlogic, so that when a user submits a requisition for review, the budget is checked. If the transaction is over budget, the user can either be warned that they have exceeded budget and their transaction has been allowed (with an optional action for another approver in the approval process) OR they can be prevented from submitting the requisition.

The applicable routing policy can be set up to include an over-budget approval step, so that if the budget is exceeded by an amount ($) or a percentage (%) or both/either, those over budget lines need to go to Approver X for additional review.

It is important to note that with ReQlogic, you can budget by much more than simply the GL Account. For instance, you can have one budget defined by an account/dimension combination, another by item or item category (e.g., Laptops, IT items), and yet another by Vendor (e.g., putting a cap on how much can be spent with a particular vendor in a given year/period). This functionality extends to any field on the ReQlogic transaction line, including up to eight user-defined fields.

In addition to budgeting by amount, you can also budget by quantity (e.g., number of new computers purchased in a given period).

Budget checking can be done on amount and quantity, as well as period and year-to-date. Users can be prevented from submitting an over-budget transaction, or simply be given a warning.

As you can see, this tool offers a great deal of flexibility. I hope this answers your question. I'd love to hear from you, should you have others.

You can also visit http://www.reqlogic.com to register for a recorded presentation.

Best Regards,

Karen O'Neill, ReQlogic.

bjwjmmba1

Hello Karen,

Thank you so much for this information! Being that this is our beginning evaluation phase going directly to spcecific partner vendors has been "discouraged" so, this is AWESOME information. Since I am new to Mibuso I would like to be added to your Friends list for future analysis possibilities if that is alright with you.

Thanks again! =D>

Sincerely,

Barbara Whitener BA
Joyce Meyer Ministries