Encumber Scholarships

Melissa Pantall
Melissa Pantall
Fifth Anniversary Name Dropper Participant Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

Hello, I work for a University and we are tossing around the Idea of Encumbering Scholarships but we do not use the Purchase Order section of BlackBaud. Does anyone else do this?

Comments

  • Sarah Curry
    Sarah Curry
    Seventh Anniversary Kudos 1 Name Dropper Participant

    @Melissa Pantall - Hi! You can create encumbered journal entries without using Purchase Orders. POs may offer more of an audit trail and process, but aren't necessarily needed. I don't personally have experience with this use case…bumping you up to see if anyone else does!

  • Patricia Nowak
    Patricia Nowak Community All-Star
    Sixth Anniversary Kudos 1 Name Dropper Participant

    @Melissa Pantall Hi Melissa, We are also thinking about using encumbrance type JVs to accounting for scholarship encumbrances. I have done a little bit of “testing” and have determined that it could work. We are in the process of having our scholarship system between our Foundation and our University rewritten. The plan is to use the encumbrance type JVs in the new system. The use of encumbrance type JVs does have a big affect on how to run reporting. At this point we are not sure of our “go live” date but are anticipating 7-1-25.

  • Melissa Pantall
    Melissa Pantall
    Fifth Anniversary Name Dropper Participant Facilitator 1

    @Patricia Nowak Thanks this is very encouraging. We were just trying to figure out if we would then need to reverse the JE's when it comes time to pay them or how many new accounts we would need to set up to encumber them in JE then pay them through the Payables system.

Categories