These cookies are required for the website to function properly. They ensure security, enable basic features like page navigation, and store user session data. You cannot disable these cookies.
- Cost Accounting
- Process
- Record and approve actual cost
Record and approve actual cost
Move an incurred cost from draft to an approved posting with decision evidence. The handoff works when each person can follow the same source record and see the decision or operation result in context. Agree the record owner and the status rule before the first live cycle.
Step by step
-
Record charge Cost Accountant
Cost Accountant enters the cost pool, organization, period and document lines.
- Captures charge and account lines
- Updates Accounting documents, Document lines
-
Submit for review Cost Accountant
Cost Accountant moves the Draft posting to Pending Approval under the team procedure.
- Places the charge in the approval queue
- Updates Accounting documents
-
Approve posting Cost Controller
Cost Controller approves through Cost Posting Approval Action; the action records a review decision and operation receipt and moves Pending Approval to Approved.
- Records the decision and action result
- Updates Accounting documents, Review decisions, Operation receipts
ApprovalA person approves before the work moves on.
Who does what
Roles and permissions- Cost Master Owner
- Maintains cost context; Cost Accountant prepares cost records; Cost Controller approves postings; Variance Analyst reviews differences; Finance Reviewer checks ledger evidence.
Set up Cost Accounting your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.