Approvals in IC Finance Cloud

Summary

Approval chains for transactions in IC Finance Cloud vary by transaction type. This article contains instructions for managing your approvals, as well as information on how transactions are routed for approval in IC Finance Cloud.

 

Audience

This article is intended for all faculty and staff.

 

Platform

IC Finance Cloud

 

Contents

 

Approval Chains

 

Cost Center Manager Hierarchy

Transaction Types:

 

Requisition

Expense Report

Invoice

The Cost Center Manager (CCM) is an employee designated, for a department code, to be the first approver for any transactions charged to accounts containing that department code. The CCM is typically an administrator or coordinator within the department. There can be only one CCM per department code.

The Cost Center Manager Hierarchy begins with the CCM, escalates to the CCM's supervisor, and continues through a series of supervisors depending on the dollar amount of the transaction. Dollar amount thresholds for each transaction type are listed in the sections below.


 

Supervisor Hierarchy

Transaction Types:

 

Spend Authorization

Cash Advance Request

The Supervisor Hierarchy begins with the supervisor of the employee submitting a transaction and continues through a series of supervisors depending on the dollar amount of the transaction. Dollar amount thresholds for each transaction type are listed in the sections below.

 

Basic Approval Process for Financial Transactions

 

To manage approvals within IC Finance Cloud:

 

1. On the IC Finance Cloud home page, click the (Notifications) icon in the top right corner of the screen and click the Show All button OR click the (Navigator) icon in the top left corner of the screen, click Tools, and click Worklist.

2. Click on the notification for the transaction you would like to process.

3. In the top right corner of the window that appears, click one of the following to process the transaction:

  • Approve to send the transaction to the next approver, or to complete the transaction if you are the final approver.
  • Reject to cancel the transaction. To re-initiate the process, the submitter will need to create a new transaction.
  • Reassign to send the transaction to another employee for approval.
  • Actions -> Request Information to send the transaction back with a comment requesting additional information.
Transactions requiring approval in IC Finance Cloud will automatically generate a notification email to the approver. As an alternative to the steps above, approvals for financial transactions can be processed within the notification email itself by using the commands in the top left corner of the body of the email.

 

Approval Limits and Additional Info by Transaction Type

The dollar limits for approvals for each transaction type are determined by an employee's Job Level. A transaction moves through its approval chain until it reaches an employee whose Job Level has an approval limit at or above the dollar amount of the transaction. See below for a listing of Job Levels with their associated Jobs, followed by listings of the approval dollar amount thresholds and additional approval information for each transaction type.

 

 

Requisitions

 

Additional Info for Approvers:

 

Approvers are able to add notes and attachments when approving a requisition

 

Approval Limits

 

Spend Authorizations

 

Additional Info for Approvers:

 

Approvers can check funds on accounts designated in a spend authorization. To check funds, click the Actions dropdown menu and click Check Funds. This step as optional, as accounts will not be charged until an expense report is completed.

 

Approval Limits