Freeze Timesheets: Enhancing Financial Control and Data Integrity
Freeze Timesheet feature, designed to strengthen financial controls and ensure data accuracy.
With this new functionality, finance and project administrators can prevent unauthorized modifications to time entries by locking them down until a specified date.
Key Features:
- Prevent Unauthorized Changes: Protect time entries from accidental or intentional alterations.
- Maintain Data Integrity: Ensure the accuracy and reliability of time and attendance data.
- Enhance Financial Compliance: Support financial closing processes and regulatory requirements.
- Flexible Workflow: Allow for continued approvals and rejections of frozen time entries.
- Auditability: Track changes to the freeze date for transparency and accountability.
Once timesheets are locked until a specific date, any modifications to the time entries before the freeze date are restricted. However, approvals and rejections can still be managed for these frozen time entries, allowing for flexible workflow adjustments.
If adjustments are necessary for frozen time entries, only project admins (and designated custom roles with relevant finance permissions) have the ability to temporarily modify the freeze date to make changes. The history of all date adjustments for frozen timesheets is also accessible, ensuring transparency and auditability.
Steps to Process:
Go to the Projects section and navigate to the Finance settings. Under the Timesheet Freeze settings, you will be able to locate the feature.
By leveraging the Freeze Timesheet feature, organizations can establish robust time and attendance controls, improve financial reporting accuracy, and streamline compliance efforts.
To learn more about the Timesheet approval process, simply click on the provided link.