Fund Requisition
Fund Requisition in PrismERP is used to manage the process of requesting and approving funds within an organization. It allows employees and departments to submit requests when financial resources are needed for operational activities, projects, or other business purposes. Each requisition is created by providing necessary details such as the purpose of the request, the requested amount, supporting documents, and the expected date when the funds will be used. These details help define the context of each request within the system.Once a fund requisition is submitted, it enters an approval workflow. This workflow allows designated authorities to review the request and take action based on organizational rules. A requisition can be fully approved, partially approved, or kept pending depending on the decision made during the approval process. Each stage of approval is recorded in the system so that the progress of the request can be tracked at any time.
After approval, the requested funds can be disbursed according to the approved amount. The system ensures that every step of the process, from submission to disbursement, is properly recorded. This includes the initial request, approval actions, and final fund release entries, all stored under the same requisition reference.Fund Requisition in PrismERP also maintains a structured record of all requests for reference and tracking purposes. Users can view previous requisitions, check their status, and review the history of approvals and disbursements associated with each request. The system supports organized financial control by keeping all requisition-related activities in a single workflow.Reporting tools are available to view and analyze fund requisitions across different employees, departments, and time periods. These reports show how funds are requested and processed within the organization, along with their approval status and usage patterns across different operational areas.