Finance Accounts for Approval

Use Finance Accounts for Approval under Finance & Administration to view recently created finance accounts that are awaiting approval. You can also view other information such as the account creator and creation date.

To use the Finance Accounts for Approval submodule, you must have access to Finance & Administration as defined in the User Access Rights submodule under Settings.

The Finance Accounts for Approval submodule has one main grid, which displays an overview of the finance accounts awaiting approval, and a sidebar, which provides access to more detailed information about each finance account (see Finance Account Sidebar).

The Finance Accounts for Approval grid displays the following information:

• Type: This refers to the type of finance account.
• Account number: This is an identifier that you assign an account. This number must be unique; it can contain numbers, letters, and special characters.
• Name: This is an identifier that you can assign an account. Depending on your role or permissions, changing the account name may require approval.
• Company: This refers to the company name. You can double click a cell under Name column to display the Company card.
• Action: This refers to the type of action that was performed on the account. Values can be Created or Updated.

You can perform the following actions from the main grid:

• Approve Finance Accounts
• Reject Finance Accounts

Note: To manage only the records that require your approval, go to Tasks > Approval > Finance Account Approval.

As with most WorkBook screens, you can always use the Search field to find specific finance account records.

Finance Account Sidebar

Depending on your permissions, you can modify the details of an account from the Finance Account sidebar. It consists of the following panes:

• Creditor Information: This pane displays information such as Account number, Accounting contact, Client account number, Postcode/City, and Validation type, among others.
• Creditor Default Card: This pane displays information such as Account number, Posting group, Payment terms, VAT Code, Reporting Group, Default activity, and Default accrual invoice account, among others.
  You can also select the default values that you want to use for the selected account in the Default Activity and Default accrual invoice account fields.

  Note: Choose the predefined pattern that matches the selected finance account.
• Payment and Payment Proposal Settings: This pane displays payment settings information such as Payment definition, Payment method, Creditor payment number, Payment code pattern, Bank branch/account number, and SWIFT number, among others.
  This pane also displays payment proposal information such as Payment group. You can also specify the following settings by selecting or clearing the corresponding check box:

  • May not be used on current creditor
  • Do not include creditor if credit note(s) exists
  • Do not include creditor if total debt exceeds payment
  • Ignore credit notes in payment proposal (not recommended)
  • Allow use of collective payment (where applicable)
  • Is employee creditor
  • Exempt from pay when paid hold
• External References: This pane displays external references that are used to map external information to jobs, purchase orders, or resources.

  You set up external references in Settings > Advanced Tools > External Reference Setup. For more information, see External Reference Setup.