Approval required for reversing journals

Overview:

A new feature in evergreen introduces an approval workflow for reversing general journals. This feature enhances control over financial transactions by requiring approval before a journal or a set of ledger transactions can be reversed.

Key features:

• Approval workflow: Users can request approval to reverse a journal or a set of ledger transactions, adding a layer of control and oversight.
• Configurable approval requirements: Individual journal names can be configured to require approval for reversal.
• Request tracking: Users can track the progress of their approval requests through the Request log.

Configuration:

To enable this feature, activate the feature labeled “(evergreen) Request approval to reverse journals and transactions”.

Configure individual journal names by navigating to General ledger > Journal setup > Journal names, selecting a journal name, and setting “Requires approval for reversal”.

Note: This setting is only available for journals with Journal type Daily.

How it works:

When a user wants to reverse a journal, they can request approval by opening the posted journal lines and selecting “Submit request” under the “Request reversal approval” button.

This action sends an approval request to the designated approver. The submitter can monitor the progress of the request through the Request log. While the request is pending approval, the “Reverse entire journal” button will be disabled. Once approval is granted, the button will be enabled, allowing the user to perform the reversal.

Approval workflow:

sa.global provides a Power Automate solution with an approval workflow. This flow sends the request to the original journal approver if one exists; otherwise, the journal creator will receive the request. The approver will have the option to approve or reject the request. Customers can also create their own custom Power Automate flows if their approval requirements differ.