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PARK & POST Journal Entry and auto reversal

Dear All,

Our auditors has offered the following changes to be implemented in SAP system.

1. JE approval: Configure the system functionality to place journal entries in a u201Choldu201D status when entered into the system, then the supervisor/manager review and approval then required to release the journal entry from the u201Choldu201D status and post the entry to the general ledger. The reviewer should not have the ability to initiate a journal entry.

2. JE reversals: Utilize the functionality to automatically reverse journal entries, booked in prior month as u201Creversing,u201D when new period is opened.

3. 3-way match: Utilize the SAP functionality to perform an automated 3-way match process between invoice, purchase order, and goods receiving documentation. If invoices meet the 3-way match criteria based on established variance thresholds, invoices should automatically be approved for payment. If variances are noted, which exceed tolerance thresholds set by Management within the system, work flows should be used within the system to automatically route the invoice for the require approval.

How this changes can incorporated in the system.

Do suggest.


Former Member

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