JOURNAL APPROVAL

By Jag - August 25, 2012
Journal Approval feature is used to ensure that journal entries and batches are approved by appropriate management personnel before the journals can be posted to your account balances

•Journal Approval uses Oracle Workflow to control and monitor the approval process, sending notifications to journal batch preparer’s and approvers when needed.
•Before you use Journal Approval, you must::
  1. –Enable journal approval for your Ledger.
  2. –You must also set up your journal sources to use journal approval.
  3. –You must create an approval hierarchy and define your approver authorization limits.
  4. –Set the two profile options Journals: Allow Preparer Approval and Journals: Find Approver Method. See: Setting General Ledger
  5. –Configure the GL Journal Approval Process in Oracle Workflow Builder.
  6. –You can change the default settings for “Request Approval From Approver timeout” and the “Reached Manager Notification Resend Limit”.
•To enable Journal Approval for your Ledger: When defining your Ledger, mark the Enable Journal Approval check box on the Define Ledger window.
•To specify journal sources that require journal approval: On the Journal Sources window, mark the Require Journal Approval check box for each journal source that should be subject to approval.
•To create an approval hierarchy: Use the Enter Person window in Oracle General Ledger to enter all of your employees who are involved in preparing and approving journal entries and batches. When you enter an employee, you also enter the employee’s supervisor or manager name. The supervisor is the default next approver for journal entries and batches. Likewise, the supervisor’s manager is the next approver after the supervisor.
•To define authorization limits:
  1. Navigate to the Journal Authorization Limits window.
  2. Enter the Employee name, or select it from the list of values.
  3. Enter the amount of the employee’s Authorization Limit.
  4. Repeat the previous two steps for each employee for whom you want to define authorization limits.
  5. Save your work.
•Submitting Journal Batches for Approval
–1. Navigate to the Find Journals window.
–2. Query the journal batch you want to submit for approval.
–3. Select the batch from the Enter Journals window.
–4. (Optional) Choose Review Batch or Review Journal if you want to review the batch information or journal details before you submit it for approval. Note: The Status region on the Batch window will display the current statuses for Posting, Funds reservation, and journal Approval.
–5. From either the Enter Journals, Batch, or Journals window, choose the More Actions button.
–6. Choose the Approve Batch button.
–After you submit your journal batch for approval, you should receive a message indicating the result of your request. The message will inform you that your journal batch:
»Was self–approved, if you are authorized to approve your own journal batches, or
» Has been sent to an approver, or
» Was invalid.
•Approving or Rejecting Journal Batches –
–1. Check your notifications. Journal approval requests will display the following in the Subject field of the Notifications Summary window:
“A journal batch for < batch amount> requires your approval”
–2. Open the notification that requests your approval.
–3. (Optional) Review the batch information or journal details before you approve or reject it. If your current responsibility allows you access to the journal batch’s set of books, you can drill down from the Notifications window to the Enter Journals window to review the batch. Otherwise, you can use General Ledger’s journal inquiry feature to review the batch.
•The journal approval notification you receive will include the batch name, total batch amount, functional currency, preparer’s name, monitor URL, and preparer’s comments. Use this information to query the journal batch.
–4. With the journal batch approval request displayed in the Notifications window, choose the Respond button.
–5. Select Approve or Reject from the Action pop list.
–6. (Optional) Enter a Comment.
–7. Choose OK to save your work.
•PROFILE OPTIONS –
–Request Approval From Approver timeout — the standard setting is 7 days. After this time has expired, Journal Approval notifies the preparer that no approver response has been received.
–Reached Manager Notification Resend Limit — the standard setting is 1 notification. Journal Approval will resend notifications to the approver until the limit is reached.
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