Cost Object Approvers are designated reviewers responsible for approving the budget-related portions of an expense report. When an expense is charged to a specific cost center or other cost object, these approvers review and authorize the part of the report that impacts their budget. If any approver makes changes, the expense report re-enters the approval process. This ensures that all Cost Object Approvers can review any updates, providing control, compliance, and visibility for every impacted cost center.
A Cost Object Approver can be assigned an approval Level or Limit. Review the terms below to learn more.
- Level
- This type of approval is defined by each approver's sequential position in the approval process. The cost object moves from one level to the next to the next, all the way to the end of the process. For example, it moves from a junior manager to a senior manager to the company CFO.
- Limit
- This type of approval is based on the amount that an approver is authorized to approve (also known as signing authority). The cost object starts with the first approver, moving from one level to the next. It stops when it reaches an approver who has an approval limit equal to or greater than the cost object amount. Note that a limit must be defined for the approver to allow them this functionality.
- Cost Object Direct Approval is a second limit-related option. Using this option, the cost object might not start at the first approver and might not go to the end. Instead, it goes directly to the approver with the correct approval limit. In other words, the cost object's first and only stop is with the approver who has the correct limit.
