Unapproved Records

In general, for making any changes to data in Aura that has financial implications, there has to be a user to input (or update) the data and a user to authorize the data. As soon as the data is input (or updated), till it is approved by another user, the status of the record is treated as Pending, indicating that it is an unapproved record. In such cases, the Close-of-Business (COB) processes themselves will not be stopped but may be suspended for the specific accounts only.

Impact of Unapproved Records

1. Accounts under CASA, Term Deposit and Cards:

Any Account that is created has to be activated and approved for all processing to be done.

Subsequently, if any changes are done to the initial values and thus if there is an unapproved record, only the last approved values are considered for all processing and the changed values are considered only after the approval of the record. For example, if the interest scheme applicable to an account for interest payable has been updated, the revised interest scheme will be applicable only after its approval. Till then, the earlier interest scheme will be applied till the record is unapproved.

2. Loans and FX:

Any Account that is created has to be activated & approved for all processing to be done.

Subsequently, if any changes are done to the initial values and thus if there is an unapproved record, the account is not taken up for any further processing till the approval is done.

You can see the list of unapproved records under Admin > Users > Unapproved Records.