Oracle 11 has introduced a new feature called CENTRA for approval of inter company transactions. The working of this new feature has been explained below: CENTRALIZED TRANSACTION APPROVAL Centralized Transaction Approval (CENTRA) is a new feature in Oracle General Ledger. It is an enhancement to the Intercompany (I/C) functionality of GL. In the older Oracle version, to create an intercompany entry, one needed to access more than one balancing company segment. Thus, creating an intercompany entry was easy for any user having access to two or more different balancing segments. In short, there was no approval process for Intercompany transactions. However, the centralized transaction approval CENTRA introduced in Oracle 11 makes approval of intercompany transactions possible. With CENTRA a user can create an intercompany journal entry, but it is not posted until the inter company entry has been approved by an authorized person.