This section describes some general concepts related to a fund approval hierarchieshierarchy.
Understand Approval Statuses
Certain edit tests require manual business review, while other edit tests do not require manual business review. An edit test result can display the following statuses in Control Center:
- Cleared. Cleared results were cleared by the Eagle system. include results systematically cleared or results that passed user-defined tolerances.
- Raised-Approved. Approved results were reviewed and manually approved, with notes, by an Eagle user.
- Raised-Unapproved Unapproved results are edit tests that are still raised and require manual or systematic attention.
- N/A, N/A or not applicable, indicates that the edit test is not defined for that approval role level.
Understand User Roles
When you create a fund approval hierarchy, you can set up user roles that correspond to the available approval levels from 1 to 4. You can change the role names and descriptions. The default roles provided include:
- Annotator (Role 0), used only with dual approvalsapproval
- Preparer (Role 1)
- Reviewer (Role 2)
- Accounting Manager (Role 3)
- Unit Manager (Role 4)
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At a minimum, the systematic accounting checks that Control Center provides demand one level of business approval as long as the user role level meets, or is above, the error tolerance level that was raised. Within each edit test that uses the fund approval hierarchy, you can configure up to four approval levels required for business review. Eagle provides a set of FAH edit tests designed for use with a fund approval hierarchy. For tolerance related edit tests, you can configure separate and distinct thresholds for each role level. You can set up and change the approval levels based on your current and future business needs. You can also set up error severity based on role level. For example, you can specify an error severity as a warning (LOW) or an error (HIGH) at the edit test level. If not assigned, the system uses the default error severity from the error dictionary. You can also assign a warning (LOW) or an error (HIGH) at the individual error tolerance level. For For more information, see Manage Approval Levels for FAH Edit Tests.
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When you use a fund approval hierarchy, Control Center allows you to approve edits in a sequential role level manner. Control Center disables higher level approvals until the lower level approvals are complete. As a result, an edit test result can show multiple approval statuses that correspond to different required approval levels. For example, say you require four levels of business approval for an edit test. The lowest reviewer in the hierarchy reviewed and approved the edit, but the higher reviewers in the hierarchy did not yet review the edit. In this case the edit has an Approved status at the lowest level of the fund approval hierarchy and it has an Unapproved status at the three higher levels of the fund approval hierarchy.WRITERS NOTE: should we replace this example with a non dual approvals example? Need entity to use.
The following figure shows the approval statuses you can view for an edit test result in Control Center. In this example, the Eagle client uses the dual approval process, which includes use of the Annotator user role. The default user role names appear at column headings in this example. If you change the role names, your role names appear instead. The first row shows a result approved by an Eagle user at the Annotator level and unapproved by an Eagle user at the Preparer level. This level 1 dual approval edit test result does not require approvals at a level higher than Preparer. The second row shows a result approved at both the Annotator and Preparer levels.
Understand Approvals for Sign-Off Edits
A user-level option allow Eagle users with certain rights the ability to approve Sign-Off edits (Transaction, Valuation and Audit Sign off edits), similar to the allowance to clear prior period edits. Status sign-off edit tests allow you to ensure that approval role levels 1 and 2 completed the necessary review for a fundthe system to close the fund by clearing after all other raised edit tests are cleared or approved. For more information, see Manage Status Sign-Offs.
Understand Approval Options
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- Approve As, Allows you to approve one or more selected edits at a specified approval role level. For example, you approve the edits as a Preparer (Role 1).
- Approve All As. Allows you to approve all edits shows on the page at a specified approval role level..
- Final Approval. Allows you to approve one or more edits at all role levels.
You can press the CTL key to select multiple rows. This option allows managers at upper levels of the fund approval hierarchy to approve an edit at multiple role levels at once, rather than approve at one level at a time in sequence - Final Approval of All. Allows you to fully approve all edits displayed in the page at all role levelsone or more edits. This option bypasses role-level requirements.
- Unappprove As. Allows you to unapprove one or more selected approved edits at a specifed approval role level. For example, you unapprove the edits as a Preparer (Role 1).
- Unappprove All As. Allows you to unapprove all the approved edits in the page at a specified role level. This option is not available when you use dual approvalsapproval.
Understand the Approval History
Control Center allows you to use the Show Approval History option to see a list of the approvals and unapprovals for a selected edit test result. You can view the date of the approval or unapproval, the user name of the person people who approved or unapproved the results, and the approval role level they used for the approval.
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