How do I approve a covenant certificate?

Open the draft, check the figures (and the Workings where you need to) and click Approve. Admins and those who can lock months approve: by default admins and finance, which an admin can change in Settings → Permissions.

As you approve, Margin works the figures out from the books again. It refuses, and says why, when:

• A month isn't locked. Every month the certificate rests on must be, the whole quarter for a quarterly covenant: "September 2026 isn't locked. Lock it on the month close page, then approve the certificate."
• The books changed since the certificate was worked out: "The figures in the books changed since this certificate was worked out. Check the new figures, then approve it." The certificate then shows the new figures.
• A covenant checked by hand isn't marked met or not met yet.
• A covenant can't be worked out from the books yet.

Once approved, the certificate says who approved it and when. Only an approved certificate is sent to the lender: with Galley, Margin sends it straight away, in the background, while Margin to Galley is on (what happens next).