The Procurement with Logistics process includes which type of ledger entries?

The Procurement with Logistics process encompasses both proprietary and budgetary ledger entries to ensure comprehensive tracking and management of financial resources associated with procurement activities. Proprietary ledger entries reflect the actual financial transactions and resource allocations, providing details about assets, liabilities, revenues, and expenses. These entries are essential for maintaining accurate financial records.

On the other hand, budgetary ledger entries are used to track the planned budgetary authority against the actual expenditures. They enable the organization to monitor adherence to budgetary constraints and ensure effective management of funds allocated for procurement and logistics.

By incorporating both types of ledger entries, the Procurement with Logistics process allows for a thorough understanding of the financial implications of procurement decisions, aids in planning and oversight, and ensures accountability in the expenditure of funds. This dual tracking mechanism contributes to an organization's overall financial health and efficiency in resource utilization.