Manually Approving Settlements

This topic discusses how to manually approve settlement payments. You need to manually approve or deny settlements if you do not configure automatic Settlement Approval Workflow.

Page Name

Definition Name

Usage

Approve Settlements Page

STL_SELECTION

Authorize the release of scheduled treasury settlement transactions.

Settlement Approval - Preferences Page

STL_SELECTION_PREF

Set up the default criteria for searching for settlements for approval.

See the Approve Settlements Page

Use the Approve Settlements page (STL_APPROVAL) to authorize the release of scheduled treasury settlement transactions.

Navigation:

Cash Management > Settlements > Approve Settlements

This example illustrates the fields and controls on the Approve Settlements page. You can find definitions for the fields and controls later on this page.

 Approve Settlements page

Field or Control

Description

Preferences

Click this link to set up the default criteria for searching settlements on the Settlements User Preferences page (STL_SELECTION_PREF).

Settlement Search Criteria

Enter the search criteria and click Search to display a list of payments.

Field or Control

Description

Status

Select a status value of Approved, Denied, or Selected. The selected value determines what settlement action buttons are available to you.

Payments - (All)

The Settlement Details tab displays the international bank account number (IBAN) in addition to the local, domestic bank account number when the country has been set up to display the IBAN on the IBAN Formats page.

Field or Control

Description

Approve Payments

Select payments and click to approve settlements for payment processing. The Status of the payments changes to Approved and is sent to Financial Gateway.

Note: The status will not change immediately to Approved if the system is configured to use workflow for settlements requiring additional approval based on the dollar amount.

Note: Settlements associated with a deal that requires deal approval, will not be available for approval until the deal itself is first approved.

See Delivered Workflows for Cash Management.

Deny Payments

Select payments and click to deny settlements for payment processing. The Status of the payments changes to Denied.

Note: You cannot deny a payment once the automated accounting process is run for the settlement.

See Processing Accounting Entries.

Note: You define settlement approval options on the Treasury Options page. If you enable settlement approval workflow, do not use this page to approve settlements. Instead, the system changes the settlement status to Approved when Virtual Approver finds that the item passes the approval rules that are defined under workflow.

You establish the workflow approval rule definition at implementation. PeopleSoft delivers a rule in the database for the Approval Rule Set called Execute Treasury Settlements.

See the product documentation for PeopleTools: Workflow Technology.