Approval Process Enhancements October 2020 release

Here are some news from oracle regarding the October 2020 patch update for FCCS: The much awaited changes to approval / review process are coming up.  Titbits from today’s Oracle webcast – FCCS related to approval process for you are,

• In the approval process, when you add new entities you no longed need to unlock and re-lock prior periods anymore in order to lock the new entities for current period.
• The auto lock will be applied from the inception period of the application till the last period when the parent of the new entity was locked last.
• The new entity will inherit its lock status from its parents for the prior periods.
• For any entity that participates in the review process, the system is going to allow data entry to the entity after the review process is started.

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Note, from what I understand:

-> The key is that all the prior periods expected to be in locked state for all the ancestors of  this new entity for this enhancement to work as expected.

-> The approvals unit synchronization will be triggering the features introduced in Oct 2020 to work I guess so remember to synch your approvals unit as soon as you add a new entity to your application.