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Budget exceed issue while doing MIGO

shubham_kiyawat
Participant
0 Kudos

Dear All,

Budget exceed issue is coming while doing MIGO.

WBS Budget uploaded: 532,000 (INR)

Commitments: 417,530.07 (INR)

Available: 114,470 (INR)

PO vaues:

Gross Price(PBXX): 9,297 (CHF)

Customs: 1,481.25

CVD-NO MODVAT: 1,383.22

ECS on CVD: 27.66

Sec ECES ON CVD: 13.83

ECS on Customs: 58.12

HECS on Customs: 29.06

IN ADC 752.08

Actual Price: 13,862.22 (CHF)

No Taxes.

As per exchange rate shown in the PO which is 30.12 the commitment amount is same as actual price.

Now while doing MIGO the error is coming as "WBS element, budget for fiscal year 2010 was exceeded by 16,014.08 INR"

Message no. BP604

What could be the reason.

Thanks in advance

Shubham

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pradeep_mahamuni
Contributor
0 Kudos

Shubham,

1st check is your project budget is annual type or overall type ?

If it is annual and your PO is created in year 2009 and now you are trying to post the MIGO whch is in 2010 definately system will give budget error if you have not done budget carry forward and not entered budget for yhe year 2010.

Also your PO is is in other currency than INR so while MIGO system will calculate the exhange difference by taking current exchange rate and not exchange rate rate at the time of PO creation.

In commitment only tax value which going to load on material will be added and other taxces which you are going to get back that tax value will be extra while doing the MIGO.

please check all this and revert.

pradeep

shubham_kiyawat
Participant
0 Kudos

Thanks Pradeep, at the time of MIGO the system was taking current exchange rate which is very high as compared to old.

Regards

Shubham