Processes and tasks
A process captures the overall closing procedures for an entity. Tasks define the work and what must be accomplished before your close process is considered complete. Subprocesses are a way for you to group or arrange your tasks. The values that are specified on a higher level process are used to group the subprocesses and tasks that are created below it.
You can create subprocesses and tasks within processes and subprocesses. You cannot create a subprocess or a task within a task.
When defining processes, subprocesses, and tasks, a team is required to be assigned for ownership purposes. Assigning an individual owner is optional. When a process is scheduled and only a team has been assigned to a task, the task is available in their Team To Do list. A team member can take ownership of team tasks for open periods by selecting either to keep the task in a Scheduled status or to change to a Started status. Doing so adds the task to that team member's To Do list and removes the task from the Team To Do list. A Close Manager or Close Administrator can assign a team task to an individual owner for open periods. They can assign them for the current period or for all future periods.
Depending on which applications are used in your financial system, closing processes can exist for these applications:
- Purchasing
- Inventory Control
- Payables
- Billing
- Receivables
- Lease Accounting
- Global Ledger