Internal Controls records existing controls, process flows, authority limits, dual control, segregation conflicts and versioned procedures with a half-yearly or yearly review cycle. You set the dual-control amount, define RM limits for roles, document process flows, save controls, and approve revised procedures so your approval rules are on record.
What is the Internal Controls module for?
This module records existing controls, process flows, authority limits, dual control, segregation conflicts and versioned procedures. It supports a half-yearly or yearly review cycle to ensure your business follows its own rules.
How do you set the authority policy?
- Under Books, open Internal Controls.
- Open Authority, choose Control settings, then set the dual-control amount and review cycle.
- In Authority, choose Add authority and enter an RM limit for the process and role or user.
- Open Processes and choose Save process flow to document the owner, timeline and ordered activities.
- Open Controls and choose Save control to record a preventive, detective or corrective control.
- Open Procedures, submit the revised version, then approve it from its row. Check Duties for segregation conflicts.
What is dual control?
Dual control means two different authorised people must approve a payment at or above the configured amount. This prevents a single person from authorising large transactions alone.
What mistakes should you avoid?
Do not give the creator authority to approve the same posting. Also, do not overwrite an approved procedure instead of creating a revision. These errors can compromise your internal checks.
What this does to your books
Controls do not post by themselves. They decide whether a proposed payment or budget exception may post; rejection leaves the ledger unchanged.