Dear Munsoft Client,
Kindly take note below of a few very important items:
1. Changes to the mSCOA Chart 6.5
Please be informed that a patch of chart 6.5 was released last week, which required a special budget release patch. The Chart patch introduces the following:
Added: Fund, Item Revenue, and Item Liabilities relating to the new operational grant – Program and Project Preparation Support Grant has been added.
Corrections: The levels of the listed accounts indicated below were corrected:
This patch has been rolled out since Tuesday, 30 March 2021 and will be finalised on 31 March 2021, connectivity dependent.
2. Budgeting on Inventory Expense
We would like to highlight the following matter again as we have received a high volume of queries concerning Inventory and the budget thereof.
Take note that Chart 6.5 introduced the following line items for more defined alignment on the Cash Flow:
· Liabilities: Current Liabilities: Trade and Other Payable Exchange Transactions: Payables and Accruals: Contractors
· Liabilities: Current Liabilities: Trade and Other Payable Exchange Transactions: Payables and Accruals: General
· Liabilities: Current Liabilities: Trade and Other Payable Exchange Transactions: Payables and Accruals: Inventory
Munsoft will automatically select the newly added line item (Contractors and Inventory) to ease the process.
Please take care when budgeting on Inventory Expense, note the following example: