Journal Entry Approval

Written by James Meyers

Last published at: September 10th, 2021

Overview

Journal entry approval is a way to manage the journal entries that are entered into your site. By setting journal entry approvers for certain amount ranges, you can control who verifies and approves the journal entries within your site. On the System Data page, journal entry approvers can be enabled and certain settings related to journal entry approvers can be toggled on or off to fit your foundation's needs. 

System Data Settings

The settings are located in the Journal Entry Options category. Below are the three options and what they control within CommunitySuite: 

  • Enable Journal Entry Approval: Enables the journal entry approval feature and allows you to set journal entry approvers.
  • Disable Journal Entry Self Approval: Disables the ability for a journal entry approver to approve a journal entry that they created. 
  • Disable Journal Approval Emails: Disables any emails being sent to journal entry approvers when there is a journal entry ready for them to approve. 

Enable Journal Entry Approval is the only setting that must be enabled to turn on the journal entry approval feature in your site. 

Setting a Journal Entry Approval Level 

Journal Entry Approval Levels need to be configured before journal entry approvers can be set. A journal entry approval level is a range between a minimum and maximum amount to check for journal entry approval. When setting a journal entry approval level, only the minimum amount will be set, and the maximum amount will update automatically according to the minimum amount in the next highest level.

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For example, if your minimum amount for the first level is set to $12, and the minimum amount for the next level is set to $100, the first approval level will have a maximum amount of $99.99. 

To set a journal entry approval level, follow the steps below:

  1. Click General Ledger.
  2. Click Journal Entry.
  3. Click Journal Entry Approval.
  4. Click Edit.
  5. Enter the minimum amount and approval percentage required per level. Extra rows will appear as the available ones are filled out. The percentage must be entered as a decimal amount. 

Setting Journal Entry Approvers

Once a journal entry approval level has been added, journal entry approvers can be set specifically per approval level. 

To set journal entry approvers per level, follow the steps below:

  1. Click General Ledger.
  2. Click Journal Entry.
  3. Click Journal Entry Approval.
  4.  Click Edit Approvers next to a specific level.
  5. Select Approval Employees in the drop-down lists below the approval level.