Environments with frequently changing exchange rates need adjustments to account balances in one or more currencies. This is achieved by entering amounts for specific currencies directly in the app – Post currency adjustments. Many a times users would want an authorized person to review the currency adjustments before posting. With 2005 release, there is a new app Verify Currency Adjustments - For Requester to submit a request for verifying the currency adjustments.

The Verification workflow for currency adjustments  involves the following apps:

  • Verify Currency Adjustments - For Requester
  • Verify Journal Entries in General Ledger - For Processor (Inbox)
  • Verify Journal Entries in General Ledger - For Processor (Outbox)
  • Manage Workflows for Journal Entry Verification - In General Ledger
  • Manage Teams and Responsibilities for Journal Entry Verification - In General Ledger

In this blog I would take you through a simple end to end process for the requester from the creation of the workflow till the notification of currency adjustments posting.

Managing Teams and Responsibilities for Currency Adjustment Verification

Let’s start with creation of New team and responsibilities in app - Manage Teams and Responsibilities for Journal Entry Verification - In General Ledger. Please find app help here.

  • Create a new team
  • Specify Team name, Team description, Team status: Select Ready to Use when you want to use the team, Team type: Select FGCAV.
  • Select company code/s in responsibility definition.

  • Maintain Team owner and Team members

  • While maintaining the team members, you need to enter Functions. A function controls whether an employee has the authorization to approve currency adjustments to be posted for a certain step. SAP delivers predefined Functions as below :

 

**You can create your own functions via configuration step Define Functions in App - Manage your solution.

  • Click on Save , A new team is created.

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Managing Workflows for Currency Adjustment Verification

As a next step,  Let's create a new workflow for Currency adjustment, Please find the app documentation here.

  • Go to App - Manage Workflows for Journal Entry Verification - In General Ledger
  • Select Currency Adjustments Verification from the drop down (Added with release 2005)

  • Click on Add button and enter a name for the workflow

  • Maintain start conditions such as Only start the workflow if the company code is 1010. (optional)

  • Add Step sequence - Step 1 (Verify Currency Adjustments) 

  • Add recipients. Assignment by - Team , Select the previously created team.

  • Add Step conditions 

  • Create deadline for the workflow - Maintain necessary action to be taken if the deadline is not met.

  • Maintain Exception handling parameters 

  • Repeat the process of adding a new step for Step 2 (Post currency Adjustments)

  • Click on Save 
  • New workflow is saved
  • Activate the workflow

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Verify Currency Adjustments - For Requester

As the workflow is activated, you can now initiate the review process for currency adjustment. Please find the app documentation here.

  • Go to App - Verify Currency Adjustments - For Requester

  • Click on Create 
  • Enter necessary details for currency adjustment 

  • Click on Submit

The Journal entry is submitted for verification. an authorized processor will check the entry in the app - Verify Journal Entries in General Ledger - For Processor (Inbox) and will approve or reject the entry same as in Journal entry workflow process.  The Requester is notified back with the status.

Requester can see the details in the app Verify Currency Adjustments - For Requester.

Thank you, Anshu