Approval Process Overview

Administrators can set up an approval process to transfer ownership of data, provide review control, and ensure data privacy.

For the purpose of review, data is organized into approval units. An approval unit is the combination of data for a specific Scenario, Year, Period, and Entity. For example:

• Actual/FY18/Jan/Massachusetts

• Budget/FY19/Feb/New York

The approval process generally follows these steps:

• The administrator sets up the approval unit hierarchy.

• The administrator assigns a Scenario, Year and Period combination to the approval unit hierarchy.

• The administrator starts the approval process.

• Owners and Reviewers promote approval units according to the promotional path.

• The last reviewer in the approval hierarchy approves the approval unit. It changes to Approved status. After an approval unit is Approved, no more changes can be made to it.

• The administrator can optionally lock entities before closing the period.

  Note:

  You must set up Approval Process to lock/unlock Global Assumption entity which stores some of the Global Rules (for example, Tax Automation Global Rules) and rates data (for example, Global Exchange Rates).