Verifying and Approving Transactions
GL transactions are verified and approved to prevent fraud. In some countries, it is a bookkeeping practice that every transaction of a business should be recorded, checked, and approved by authorized signatories. Accordingly, a transaction has its creator, verifier, and approver; these each must be different individuals in the business to ensure that the transactions information is accurate.
Use the functions on Status Transition Menu (25.3.12) in combination with the Verify and Approve activities in the Journal Entry function to define and implement the process to verify and approve transactions in your QAD system.
Transaction Verification and Approval Process
Verified and approved transactions are reported in GL Verification and Approval Report (25.15.1.13).
