OVERVIEW

With the introduction of our new charts of accounts and transaction posting model it is inevitable that from time to time account balances will be incorrect.

Likewise there is always a need to update balances from external finance systems.

To support these needs we have introduced a new Finance Transaction Work Type – Account Adjustment.

Like any other transaction work type these can be configured with their own

• End to end processes including approval and delegated authorities
• Case accounting structures

CTO – Account Transfer i.e. X to Y

CONFIGURING ACCOUNT ADJUSTMENT DATA CAPTURE

Out of the box the Account Adjustment work type includes the following aspects

None of which should require any specific configuration.

Instead you should configure any account restrictions required via the Chart of Accounts Work Type Configuration

That said, since the purpose of the account adjustment is to be able to adjust any account we typically do not recommend restricting the account codes available to this transaction type.

CONFIGURING ADJUSTMENT PROCESSES

Like all other work types Account Adjustments are managed according to a top level Phase Plan.

In common with other work types you can then configure this phase plan for

• Approval Models – Adjustments can be sent for approval based on financial values or authority limits. The approvals can then be managed within the application like any other request.
• Specifying when transactions status by phase – (see ACCOUNT TRANSACTION STATES AND POSTING) for each phase you can specify whether the transaction status is considered to be
  • WIP – work in progress
  • Posted
  • Reversed