Commitment control is a useful optional feature used by organizations to enforce budget controls. PeopleSoft offers the ability to define budgets and track transactions against these budgets. Budgets can be defined for both expense and revenue amounts. Dedicated commitment control ledgers are used to track the various types of commitment control transactions.
Budget, Pre-encumbrance, Encumbrance, and Expenditure ledgers are required in a commitment control ledger group. Commitment control budget definition determines the processing options for a ledger group. Rulesets specify processing rules for various groups of designated chartfields. A commitment control ledger group is linked to an actual ledger group for a business unit so that an association is made between the actual transactions and their corresponding budgets.
Budget amounts for necessary chartfield combinations are entered using budget journals. These journals are then posted to the appropriate commitment control ledger...
