Journal Cycle Management

Computron recognises the complex responsibilities facing finance managers today; strict government legislation, such as the Sarbanes-Oxley Act, demand fail-safe internal accounting controls to achieve accurate and transparent data for auditors, and finance managers must respond to those demands.

Computron’s Journal Cycle Management solution can help. By organising General Ledger journal entries into queues for review and approval before posting and period closure, Journal Cycle Management ensures that managers have an opportunity to validate transactions and attach explanatory notes, including Microsoft Word and Excel documents or scanned images, as supporting documentation.

As a result, documentation is easily accessed online during an audit, eliminating the need to pore over disorganized stacks of paper. Best of all, Journal Cycle Management integrates seamlessly with Computron’s General Ledger module and can be implemented in a short period of time – and with minimal IT resources.

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Decentralized Journal Entry

Journal Cycle Management (JCM) allows finance managers to decentralize the GL journal entry function while still retaining proper controls via an interface with Computron’s Workflow module. To accomplish this task, the JCM/Workflow interface:

  • Automatically routes journal transactions for approval based on user-defined criteria. For example, you can route all transactions referencing a specific journal code or all transactions that include a specific account to a single approver or many approvers.
  • Accepts transactions from Computron’s standard online entry function or via imports from external systems using Computron’s generalized external interface (GENEX) facility. Approvers use the standard online edit function to review the transactions and either approve or reject them.
  • Assigns routed transactions to work queues. Individual users (approvers) or groups can access a work queue to identify transactions requiring their attention. Managers can review the queues and reassign work to other users or groups if the primary approver is unavailable to keep the process moving.
  • Places transactions routed for approval on “hold” to prevent posting. Once approved, the transaction status changes to “release” and the transaction is posted.
  • Allows you to link documents to transactions to support audits. You can add notes online or upload other documents and scanned images to individual transactions upon entry or as part of the edit/approval function.
  • Provides online access to transactions and attachments via Computron’s standard user interface.
  • Sends email notifications to approvers when journals are available for approval or to an entry clerk or end user when a transaction has been rejected.
  • Retains a comprehensive activity audit trail. Audit history supports graphical representations of a transaction’s place in the process and displays who entered the journal and when, and who has approved.
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