Monthly Balances Manage Data Requirements
Monthly Balances Data Overview
The Monthly Balances data is similar to the general ledger data, but calculated in a monthly period. Although the format varies by ERP, this data typically contains monthly period balances for each account, denoting activity occurring solely in that period. It may contain a budget value (often related to budget adjustments) and usually contains an encumbrance and actual/spent value for each month.
In some ERPs, this concept may not exist as a separate table.
Monthly Balances Data Elements
Element | Description | Example |
|---|---|---|
Primary Key | Unique identifier for each record. Can be a composite key – can also be the account code, period, fiscal year | |
Updated At | Time stamp of the last time this record was updated. | |
Account Code | Account Code. | 100-20-345-6789 |
Segments | Code for each account segment/dimension. | 100 | 20 | 345 | 6789 |
Actual Amount | The Monthly Spending in this Account. | 123.45 |
Encumbered Amount | The Monthly Encumbrance activity in this Account. | 12.34 |
Fiscal Year | The Fiscal Year that this entry is to be included in. | 2023 |
Period | The Period (month) when this activity occurred. If this is month or a period value where 1 is the first period of the fiscal year. | 1 |
Monthly Balances Data Validations
Unique by primary key.
Unique by account code, fiscal year, period.
No values are nullable.
Aggregating transactions by status, year, and month should result in matching balances.
Segments or accounting dimensions exist in the segment data.