Close Automation
Actions View for Journal Entries
Introducing the Journal Entry Management (JEM) Actions View. The Actions View is a centralized hub that provides you with a role-based list of journal entries requiring immediate attention, eliminating the need for manual filtering or status checks. By automatically surfacing urgent tasks like failed posts or entries ready for review, this view helps you maintain momentum and reduces the risk of entries falling through the cracks during the close.
The Actions View categorizes tasks based on your specific role to streamline your workflow. Preparers can easily identify entries that are in progress, require revision, or have failed to post, while reviewers see a focused list of entries ready for approval. Once you complete an action, the entry is automatically removed from your list, providing a real-time source of truth for your outstanding responsibilities.
JEM Two-Level Approvals
We’ve made several updates to the Journal Entry Management (JEM) approval workflow to improve your experience and provide greater control over your close process. You can now implement two-level approval workflows, allowing for a second layer of review on material or high-risk journal entries. This update enables you to create dynamic, rule-based workflows that automate the approval of low-risk entries while directing critical transactions to the appropriate reviewers.
These enhancements allow you to customize review layers based on your specific materiality thresholds and risk profiles. To streamline your setup, we’ve included a rule-cloning functionality and added individual activity log views to each rule for a clearer audit trail. Additionally, any user can now sync a journal entry; if applicable rules exist, the entry automatically moves into the review stage to await the necessary approvals.