With the release of PeopleSoft FSCM 9.2, increased features and functionality now offer organizations increasingly efficient and effective ways to run their business processes. One of the enhancements to PeopleSoft FSCM that comes with PeopleSoft 9.2 is an enhanced ChartField Business Request and Approval Process.
The ChartField Request and Approval. ChartFields demand a lot of security, as they are directly linked to the SetID. You want to ensure that the proper user creates those ChartFields. PeopleSoft 9.2 has provided a new feature called “Business Request and Approval” to allow for a configurable workflow process for requesting the setup of SetID-driven fields and values for fields, such as ChartFields.
This new functionality guarantees that only the user with the proper authorization can create ChartFields. Users can also can request additions or modifications to field values and submit them for approval. The new field or changes will be active only after the final approval. The new feature also provides an audit trail of the setup and approval of these values to guarantee compliance.
Elements Defined
The Business Request and Approval Process are workflow processes in which users can set fields that are SetID driven and have them approved. Users can add or modify field values with proper approval, and then, have those changes reflected in the corresponding base tables.
ChartFields are fields that store your organization’s chart of accounts and act as a framework to divide and classify data related to your budget and business transactions. Each ChartField has its own attributes and represents one category of data. However, you can classify each ChartField with multiple values (such as by product, fund, service, etc.).
Some delivered ChartFields include the following:
· Operating Unit
· Program Code
· Budget Reference
· Activity
· Project ID/Grant
· And more…
· Operating Unit
· Program Code
· Budget Reference
· Activity
· Project ID/Grant
· And more…
A great benefit of ChartFields is an added layer of security for your organization. ChartFields have an increased level of security to set up and must receive approval beforehand. In this way, organizations can control who can affect the flow of funding by setting up ChartFields.
When creating a new ChartField request, a Request ID will be given to it automatically. After entering in the SetID and Field name, information will appear based on a corresponding pre-defined business template.
After filling in the information, users can submit the ChartField request for approval.
FSCM 9.2 also provides users with an audit trail to go back and track the entire process from request creation to final approval.
On the Approval Flow page, users can see the status of their ChartField requests. Designated approvers will be able to add comments on this page if a request is pushed back for changes, placed on hold or denied. From this page, users can start a new approval path and are able to add or remove approvers.
Want to learn more about the Business Request and Approval Process? Oracle offers great online resources that walk you through understanding the process and assisting in set up and configuration.
Want more information? Visit Defining and Using ChartField Request and Approval on Oracle's website.
