Control Manual Journal Risk in SAP S/4 HANA – Overview Video (90 seconds)

Overview

Promenta’s Journal Management solution enables a web-based, audited, and reportable process for Finance teams, to control manual journal risk in SAP S/4 HANA bringing automation and compliance to the period close. It deploys and runs inside S/4 HANA and SAP ECC and integrates with your existing SAP finance rules, transactional validation and security model. Promenta works with a fully validated virtual journal document, including external attachments, which is then cleanly created in the relevant SAP ledger when all journal approvals are in place. A high level of data integrity is ensured, through a full simulated posting at the request stage of the process. Flexible approval routing is possible at multiple approval levels. All SAP journal fields are supported. It is possible for requesters to validate and submit their Journal Request directly from Excel using comprehensive in-sheet Excel value selections and validation. Book a demo to find out more about Promenta Journal Management!

Why Promenta Journal Management?

• Digitize, control and mitgate all compliance risk from manual SAP Journal activity at SAP Period Close (FBD1, FBS1, FB50 and many more, also supported)
• Automate SAP Journal FB01 Workflow with a user friendly, compliant, robust web based process.
  • Optional MS Excel Add-in allows Journals to be “Sent-To-Workflow” directly from MS Excel (includes SAP pick lists
• Support for large journals (more than 999 line items) and multiple journals in single request
• Multiple support/evidence attachments can be included in requests (saved in SAP against Finance document)
• Full posting simulation before the request can be submitted for approval
• Flexible workflow routing capability using any meaningful field in the request (company code, G/L Account, Journal Value etc.)
• Ability to setup approval substitutes and forward requests
• Email notifications and “team inbox” capability
• Comprehensive audit and real-time process reporting (including process ageing by team)
• Ability to remove all powerful SAP Finance transaction codes from end users
• Promenta runs 100% inside your own SAP ECC or S/4 HANA system (SAP Certified Partner Product). No cloud or external server integration required.

Control Manual Journal Risk in SAP S/4 HANA – Audited & Reportable Approvals

Summary

The Promenta Journal Management solution comes with built in workflow software, which is highly configurable to accommodate your own rules. Workflows route automatically to designated approvers according to meaningful fields in the request such as company code, journal value or G/L Account (and more). Approvers are notified by email and can also access their own personal inbox to approve journal requests. Where applicable, approvers can set up substitute approvers when they are out of office and forward requests to authorized colleagues.

SAP Workflow Approval Routing Rules

The workflow routing rules – sometimes called the approval matrix – defines who your approvers are according to your process. Promenta allows you to define anything from very simple one-step approvals to multi-team, multi-step, multi-level approvals, based on all kinds of data. We will collaborate with your project team to ensure a smooth translation of your exact workflow routing needs and Approval Groups, into our Promenta Journal Management Workflow configuration tool. When this has been defined Promenta has a powerful SAP based transaction, which gives full audited control to your own in-house teams, to assign users in and out of your designated Approval Groups.

SAP Journal Entry Workflow – Reporting

Promenta provides a comprehensive journal process reporting capability delivering full transparency on all manual journal activity as the Financial Period is closing. Your process controllers and financial support teams will know exactly which journals have been fully approved, posted and completed and what is still pending approval and posting before the books can be closed. In addition to journal process reporting Promenta provides a real-time reportable audit trail of all users who have approved or rejected a specific journal request, providing all the information that your auditors require to prove you are running a well-planned and controlled process. All of this real-time reporting is available securely from within your SAP system itself.

Promenta Journal Management – Compliance

SAP Journal Workflow Compliance

SAP Journal Workflow compliance is often a key driver for our customers in implementing Promenta, which enables a consistent, rule based, controlled process for manual SAP journals during period close. Promenta enables compliance in these key areas:

• End to end, fully audited, journal request an approval process, with full audit trail preserved inside Promenta, within SAP. All users involved in requesting and approving the journal are audited and are fully reportable from within SAP using Promenta reporting tools
• Enforcement of segregation of duties (SOD), whereby a requester cannot approve their own request, unless of course the rules allow it, where a journal is correctly below an agreed approval threshold
• Only authorized SAP users who are allowed to make requests can do so for specific parts of the business
• Opportunity to remove all powerful SAP Finance transaction codes from end users in your SAP system, supporting Sarbanes Oxley (SOX) compliance initiatives