New Deal Workflows
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Enter Schedule UI
When the Enter Schedule User Interface workflow is turned on, it creates a final approve/reject step after a preparer enters, books, and classifies a new deal via the Enter Schedule workspace. The newly entered deal sits in a Pending Approval status until it’s reviewed and approved.
Journal entries are created for the deal, but the Ledger Export report is populated with the words “Pending Approval” in all cells for segments 3 & 4 to prevent ERP transfers and to allow a review of the accounting.
To-Dos and Notifications are created throughout the process. There are multiple on-screen messages informing users of status and journal entry transferability.
An approver will then be able to view all required screens in the deal, but not make changes. There are guardrails in deals pending approval that prevent changes by the approver.
With this workflow, deals that have not been approved can have either a status of Pending Approval or Incomplete, depending on the path the deal has undergone. The paths are approval and rejection and are covered in more detail below.
This feature works best by adding a new separate user to the system to leverage the strict control aspect of the workflow. For clients that wish to use this workflow with existing users that have an assigned Access Level, there will be guardrails in place restricting those users when they are ‘acting as the approver’ in a deal that was entered by someone else.
Basic Workflow:
Preparer enters the schedule details via the Enter Schedule workspace, then books and classifies the deal, which sets the status to Pending Approval.
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Approver logs in and approves or rejects the deal.
Approving the deal changes the status to Active.
Rejecting the deal changes the status to Incomplete and creates a Deal History event noting that further action is required by the preparer.
Note: There is no ability to perform bulk approvals at this time.
Steps to Enter Schedule via UI
The steps for this workflow are the same, regardless of whether you create new users for strict control or modify access of existing users. Here’s what both scenarios would look like:
New Users (Strict Control):
A new user will act as the preparer with an Access Level of Enhanced User or Data Entry User* and a required Can Act As role of Accounting Analyst.
A new user will act as the approver with an Access Level of Accounting Reviewer and a required Can Act As role of Accounting Approver.
Existing Users (Access Levels):
An existing user with an Access Level of Enhanced User and a required Can Act As role of Accounting Analyst will act as the preparer.
An existing user with an Access Level of Power User and a required Can Act As role of Accounting Approver will act as the approver.
Step |
Action |
|---|---|
1 |
The preparer enters deal through the Enter Schedule workspace. |
2 |
The preparer then books and classifies the deal. The same warning message appears on both workspaces. |
3 |
The deal Status is now Pending Approval, as preparers are not able to approve deals that they enter. During this time, the Ledger Export report has “Pending Approval” text in Segments 3 & 4. |
4 |
On this deal, any user with an Accounting Approver Can Act As role will see the Approve Deal To-Do in Deal History. The approver clicks this To-Do and is taken to Deal Summary. |
5 |
The approver should review Deal History, Deal Summary, Asset Management, and Accounting Classification workspaces for accuracy. The approver cannot make any changes to deal information. Note: If a Book or Accounting Classification To-Do button is present in a deal, it cannot be approved. To-Dos cannot be deleted when created as part of the workflow and cannot be created manually. The preparer must book and classify the deal before it can be approved. |
6 |
The approver accesses Deal Summary, Summary and scrolls to the bottom of the page to click the Approve/Reject button. |
7 |
The approver is now on the Approve/Reject workspace, where they make a decision and add required comments. Note: If rejecting the deal, the comments should be very clear as to what needs correcting. These comments appear in Deal History, History and will guide the preparer through the necessary corrections. They also appear in a notification email sent to the preparer. |
8 |
Approved deals become Active immediately upon approval and the Ledger Export segments are populated with configured accounts. Rejected deals move to Incomplete status and the Ledger Export still shows “Pending Approval” text in Segments 3 & 4. |
9 |
All Accounting Analysts are notified of the rejection via an email notification, even if they were not the preparer of the deal. When Accounting Analysts login, they see a Correct Deal Details To-Do in Deal History. Note: To-Dos cannot be deleted when created as part of the workflow and cannot be created manually. The Correct Deal Details To-Do will only be removed after the deal is rebooked.
|
10 |
The preparer corrects the concerns noted in the rejection event. Note: Whenever a deal is in Incomplete status, a message appears on Deal History, Deal Summary, Schedule, and Asset Management workspaces. |
11 |
The preparer must re-book the deal using the enqueued Book To-Do and reclassify using the enqueued Generate Accounting Classification To-Do. Once those To-Dos are acted on and removed from Deal History, the approval path starts over, and the status is back to Pending Approval. |
*By design, the Data Entry User Access Level does not allow changes to be made to Asset Management.
Possible Use Cases for Existing Users
Existing User 1 with Access Level of Enhanced User and required Can Act As role of Accounting Analyst
Existing User 2 with Access Level of Power User and required Can Act As role of Accounting Approver
Existing User 3 with Access Level of Power User and required Can Act As role of Accounting Approver
User 1 enters the deal and does not book it or cannot book it, because of user permissions.
User 2 cannot approve the deal because there is still a Book To-Do present on Deal History.
User 2 can book the deal.
User 2 cannot approve the deal because they booked it.
User 1 cannot approve the deal because they do not have approval privileges.
User 3 would have to approve the deal.
There are likely other use cases that cannot be described in this user guide, since many clients have custom access levels not based on the standard LeaseAccelerator offerings. Please work with your CSM or Support while getting acquainted with this new feature if you run into scenarios that are not explained above.
Additional Information
Deals in Incomplete or Pending Approval status are excluded from the MEC processes in LeaseAccelerator. The books for these leases will not be ‘closed’ if they have not been approved prior to close.
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Deals in Incomplete or Pending Approval status are excluded from nightly maintenance procedures, so they will not go into evergreen if they have backdated commencement dates.
If the “Auto-Record Default EOT Event” button is present, it will not record the event if clicked. This will be hidden in future iterations of the feature for deals in Incomplete or Pending Approval status.
If a deal is rejected and correction is required for Unit Price, Product Category, Product Number, Manufacturer, or Description, then it must be deleted and reentered since these are not editable once a deal is booked. In order to delete the deal, the user must have privileges to do so.
If you are using LeaseAccelerator’s RFP and LvB features and you progress to ‘Create Schedule’ from within either the RFP or LvB, the new workflow will not be enabled in this version of the new feature.
When the workflow is ‘on’, users that are neither an “Accounting Analyst” nor an “Accounting Approver” will only be able to enter, book, and classify (as allowed by permissions) and will not be able to approve a lease. This applies to Power Users, as well.
Deals created prior to turning on the workflow will not be eligible to go through the approve/reject workflow when it is turned ‘on’.
Likewise, deals created when the workflow is on and are in Incomplete or Pending Approval status, must proceed through the approve/reject workflow even if the feature is turned ‘off’.
Enter Schedule Bulk Import
Steps for PIW Import
Step |
Action |
|---|---|
1 |
A preparer (new or existing user with the proper Access Level and Can Act As Role) navigates to the Bulk Import workspace.
|
2 |
The preparer validates the PIW. The same warning message remains for this step. |
3 |
The preparer imports the PIW. After successful import, a new message appears informing the user that imported deals need to be approved. |
4 |
On Deal Summary on any of the imported deals, a message reminds the preparer that they cannot approve deals they’ve entered. The deal statuses are also currently Pending Approval. At this time, the Ledger Export report has “Pending Approval” text in Segments 3 & 4 for the imported deal(s). |
5 |
Any user with an Accounting Approver Can Act As role that accesses these deals will see the Approve Deal To-Do in Deal History. The approver clicks this To-Do and is taken to Deal Summary. |
6 |
The approver should review Deal History, Deal Summary, Asset Management, and Accounting Classification workspaces for accuracy. The approver cannot make any changes to deal information. Note: If a Book or Accounting Classification To-Do button is present in a deal, it cannot be approved. To-Dos cannot be deleted when created as part of the workflow and cannot be created manually. The preparer must book and classify the deal before it can be approved. |
7 |
The approver accesses Deal Summary, Summary and scrolls to the bottom of the page to click the Approve/Reject button. |
8 |
The approver is now on the Approve/Reject workspace, where they make a decision and add required comments. Note: If rejecting the deal, the comments should be very clear as to what needs correcting. These comments appear in Deal History, History and will guide the preparer through the necessary corrections. They also appear in a notification email sent to the preparer. |
9 |
Approved deals become Active immediately upon approval and the Ledger Export segments are populated with configured accounts. Rejected deals move to Incomplete status and the Ledger Export still shows “Pending Approval” text in Segments 3 & 4. |
10 |
All Accounting Analysts are notified of the rejection via an email notification, even if they were not the preparer of the deal. When Accounting Analysts login, they see a Correct Deal Details To-Do in Deal History. Note: To-Dos cannot be deleted when created as part of the workflow and cannot be created manually. The Correct Deal Details To-Do will only be removed after the deal is rebooked.
|
11 |
The preparer corrects the concerns noted in the rejection event. Note: Whenever a deal is in Incomplete status, a message appears on Deal History, Deal Summary, Schedule, and Asset Management workspaces. |
12 |
The preparer must re-book the deal using the enqueued Book To-Do and reclassify using the enqueued Generate Accounting Classification To-Do. Once those To-Dos are acted on and removed from Deal History, the approval path starts over, and the status is back to Pending Approval. |
Modify Deal UI
Steps to Modify Deal in the UI
Step |
Action |
|---|---|
1 |
|
2 |
The preparer enters all of the required data for the deal modification and saves the modification, as usual. |
3 |
The preparer then classifies and books the deal. The same warning message appears on both workspaces. |
4 |
On Deal Summary, the status is now Pending Approval, as preparers are not able to approve deals that they enter. During this time, the Ledger Export report has “Pending Approval” text in Segments 3 & 4. |
5 |
Any user with an Accounting Approver Can Act As role will see the Approve Deal To-Do in Deal History. The approver clicks this To-Do and is taken to Deal Summary. |
6 |
The approver should review Deal History, Deal Summary, Asset Management, and Accounting Classification workspaces for accuracy. The Approver cannot make any changes to deal information. Note: If a Book or Accounting Classification To-Do button is present in a deal, it cannot be approved. To-Dos cannot be deleted when created as part of the workflow and cannot be created manually. The preparer must book and classify the deal before it can be approved. |
7 |
The approver accesses Deal Summary, Summary and scrolls to the bottom of the page to click the Approve/Reject button. |
8 |
The approver is now on the Approve/Reject workspace, where they make a decision and add required comments.
Note: If rejecting the deal, the comments should be very clear as to what needs correcting. These comments appear in Deal History, History and will guide the preparer through the necessary corrections. They also appear in a notification email sent to the preparer.
|
9 |
Approved deals become Active immediately upon approval and the Ledger Export segments are populated with configured accounts. Rejected deals move to Incomplete status and the Ledger Export still shows “Pending Approval” text in Segments 3 & 4. |
10 |
All Accounting Analysts are notified of the rejection via an email notification, even if they were not the preparer of the deal. When Accounting Analysts login, they see a Correct Deal Details To-Do in Deal History. Note: To-Dos cannot be deleted when created as part of the workflow and cannot be created manually. The Correct Deal Details To-Do will only be removed after the deal is rebooked.
|
11 |
The preparer corrects the concerns noted in the rejection event. Note: Whenever a deal is in Incomplete status, a message appears on Deal History, Deal Summary, Schedule, and Asset Management workspaces. |
12 |
The preparer must re-book the deal using the enqueued Book To-Do and reclassify using the enqueued Generate Accounting Classification To-Do. Once those To-Dos are acted on and removed from Deal History, the approval path starts over, and the status is back to Pending Approval. |
Modify Deal Bulk Import
Steps to Modify Deal Using an Import (MDIW)
Step |
Action |
|---|---|
1 |
A preparer navigates to the Bulk Import workspace. A warning message appears on-screen when the workflow is ‘on’. |
2 |
The preparer validates the MDIW. The same warning message remains for this step. |
3 |
After successful import, a new message appears informing the user that imported deals need to be approved. Note: With the Auto-generate Accounting Classification Analysis and Book Deal box checked, the deal will go directly into the approve/reject workflow. |
4 |
On Deal Summary on any of the imported deals, a message reminds the preparer that they cannot approve deals they’ve entered. The deal statuses are also currently Pending Approval. At this time, the Ledger Export report has “Pending Approval” text in Segments 3 & 4 for the imported deal(s). |
5 |
Any user with an Accounting Approver Can Act As role that accesses these deals will see the Approve Deal To-Do in Deal History. The approver clicks this To-Do and is taken to Deal Summary. |
6 |
The approver should review Deal History, Deal Summary, Asset Management, and Accounting Classification workspaces for accuracy. The approver cannot make any changes to deal information. Note: If a Book or Accounting Classification To-Do button is present in a deal, it cannot be approved. To-Dos cannot be deleted when created as part of the workflow and cannot be created manually. The preparer must book and classify the deal before it can be approved. |
7 |
The approver accesses Deal Summary, Summary and scrolls to the bottom of the page to click the Approve/Reject button. |
8 |
The approver is now on the Approve/Reject workspace, where they make a decision and add required comments. Note: If rejecting the deal, the comments should be very clear as to what needs correcting. These comments appear in Deal History, History and will guide the preparer through the necessary corrections. They also appear in a notification email sent to the preparer. |
9 |
Approved deals become Active immediately upon approval and the Ledger Export segments are populated with configured accounts. Rejected deals move to Incomplete status and the Ledger Export still shows “Pending Approval” text in Segments 3 & 4. |
10 |
All Accounting Analysts are notified of the rejection via an email notification, even if they were not the preparer of the deal. When Accounting Analysts login, they see a Correct Deal Details To-Do in Deal History. Note: To-Dos cannot be deleted when created as part of the workflow and cannot be created manually. The Correct Deal Details To-Do will only be removed after the deal is rebooked.
|
11 |
The preparer corrects the concerns noted in the rejection event. Note: Whenever a deal is in Incomplete status, a message appears on Deal History, Deal Summary, Schedule, and Asset Management workspaces. |
12 |
The preparer must re-book the deal using the enqueued Book To-Do and reclassify using the enqueued Generate Accounting Classification To-Do. Once those To-Dos are acted on and removed from Deal History, the approval path starts over, and the status is back to Pending Approval. |
Additional Information
If a deal is rejected and correction is required for Unit Price, Product Category, Product Number, Manufacturer, or Description, then it must be deleted and re-entered since these are not editable once a deal is booked. In order to delete the deal, the user must have privileges to do so. If the deal in question is a modified deal (M00#), then you must follow the approved Modification Rollback workflow to be able to re-enter the modification.
When the MDIW import workflow is turned ‘on’, any modifications coming in via API will also go through the steps for approve/reject.