Extended Team Integration

How do you get the latest JE templates?

• Journal Entry Tool (JET) Portal

• Click on the hyperlink (shows as "template version") in the existing template

• All of the above

Which of the following templates have access restricted?

• Standard

• Inter-company Sub-ledger Override

• Sub-ledger Currency Override

What is effective backup for a JE?

• The backup must be relevant and an appropriate record to validate the various journal entry components, including amounts booked, currency used, timing of the entry and GL account coding.

• The backup should provide a clear total or summation of the line item details for comparison to the amount booked in the JE.

• The backup must contain enough details to provide evidence of the existence of each item included in the JE.

• The backup must be retained in JET tool or a shared drive (only due to large file size or confidentiality purpose) in a timely manner for audit and review purposes.

• All of above

Which statement is incorrect relating to JE Posting Threshold?

• JET system prohibits MJE with total debits <$100k Unless booked to an approved exception​ which are Payroll, Cap vs. Exp., Tax, Interco, Cash

• Even without being locked out by system, all MJE’s should not contain JE line items <$100K

• Any MJE can be posted as long as JET allows the preparer too.

When is JE approval required? ​

• JE's with total debits >$3M USD​

• JE's with CC line items <$100K

• All of above

What is the role of both JE prepares & approver?

• a) Fully understand the nature of the JE transaction being booked

• b)Review accuracy of JE

• c) Ensure JE's are SOX compliant (adequate backup, approved by process owner etc.)

• A & C

• All of above

Which statement below contains three of the newly created L2 processes under the JE Governance BPM?

• Outages; Policy & Controls; Transformation

• Policy & Controls; Transformation; Journal entry Processing JET/SAP

• Journal entry Processing JET/SAP; Posting Only; JE Governance

Which of the following are valid JE SOX controls?

• SOX SPD 308 – JET Approvers - On a quarterly basis a review of all journal entry approvers in JET is performed to ensure only authorized approvers have access

• SOX SPD 307 – JE Review – Journal entries are prepared, reviewed and approved to ensure amounts posted to the GL are appropriate and accurate

• SOX SPD 309 – JET Approval Routings in System - Journal entries greater than $3M are routed in JET to a Blackline user with JET

• All of above are right

What are the main value proposition of JE COE?

• Expertise – Specialized and proficiency on particular process​

• Standardization – Economies of scale, focused change mindset, chartered with continuous improvement (ESSA)​

• Service Delivery – Consistent, high quality GL input, providing reliable data and insight​

• Governance – Hold process performers accountable (Safeguard of GL)

• All of above

Select the correct Business Process Approval Hierarchy.

• Balance Sheet -> Cash -> FPnA

• Cash -> Balance Sheet -> FPnA

• FPnA -> Cash -> Balance Sheet