A preparer records an Asset Event in the Record Asset Event workspace. A message appears at the top of the workspace, informing the preparer that the event has been recorded in the system and is Pending Approval.

A To-Do is created on the Deal History to Approve Recorded Asset Event.

Asset events now have additional information in parentheses, showing the type of EOT event and the effective date. This is especially useful if there are multiple approvals needed, as in the case of step renewals.

Note: On the My To-Do List tile located on the Home workspace, you will look for ‘Recorded Asset Event requires approval’.

A user with Can Act As of Accounting Approver logs into the deal and clicks on the Approve Recorded Asset Event To-Do.

Note: The person that recorded the event cannot approve it, and a user that is not an Accounting Approver will not be able to approve it either.

The approver is taken to the Approve/Reject workspace for the asset event. Here, they can review the details of the event and add the required Comments.

If approved, the asset event is recorded against the deal and appears in the Deal Summary and Payment Schedule, and no further action needed.

If rejected, the asset event is not recorded against the deal and a Correct Asset Details To-Do appears in Deal History.

The To-Do is assigned to the user that entered the event and that individual also receives an email notifying them of the rejection.

Note: This To-Do will be cleared once it is clicked on and cannot be added manually.

This user then goes to the deal and clicks on the Correct Asset Details To-Do, which takes them to the History Events where they can view the reason for rejection and the additional steps to take after correction.

A user populates a Record Asset Event template (RAE) and navigates to the Bulk Import workspace.

After selecting the Record Asset Event tile, user will see a warning message displayed when the workflow is ‘On’.

Validate the RAE. The same warning message remains for this step.

After a successful import, a new message appears informing users of the need for imported events to be approved.

All users with the Accounting Approver Can Act As will see the ToDo to Approve EOT Event in Deal History. The event will not be recorded until it is approved.

If you were the user that bulk imported the RAE template, you will not be allowed to approve any events. There will be a warning message in the Approve/Reject EOT workspace letting you know you cannot approve the event.

If you are an Accounting Approver, and you did not bulk import the asset events, you will be able to approve the EOT event.

In the Approve/Reject EOT Event workspace you are able to click Review Changes to download a report that includes information about all asset events for that particular schedule.

When approving or rejecting, the Accounting Approver will approve or reject all asset events included in the bulk Record Asset Event template.

If the Accounting Approver is rejecting the EOT events, the comments should be very clear as to what needs correction. These comments appear in the Deal History, History tile and should guide the Preparer through the necessary corrections. They also appear in a notification email sent to the Preparer.

Approved events are recorded immediately upon approval and Deal Summary will reflect the event.

Rejected events trigger a rejection email to the Preparer that include any comments included in the Approve/Reject EOT Event workspace.