Which of the following is not an accounting journal status?

The correct answer identifies a status that does not typically represent a stage within the accounting journal lifecycle. In accounting systems, journal statuses are used to indicate where a journal entry is in terms of its processing and review.

The status of 'Approved' implies that the journal entry has gone through necessary checks and has been given the green light for posting to the general ledger. 'Posted' indicates that the journal entry has been recorded in the accounting system, impacting financial statements. 'Pending' suggests that the journal entry is still under review or has not yet been finalized, indicating that further action is required before it can be approved or posted.

In contrast, 'Approved' is often recognized as a state where the journal is ready for the next step but isn’t an ongoing status of a journal in processes like posting or rejection. Therefore, it lacks the function of indicating an active processing stage in the same way as the other statuses, making it distinct from the common statuses found in accounting journal entries.

Understanding these statuses is critical for accurately managing and tracking journal entries within the Procure to Pay process, as they dictate the next steps in financial reporting and compliance.