Oracle Apps: PO went to Pre-Approved status instead of Approved status

The below is an issue which we encountered in our  R12 12.1.3 TEST instance. I am posting this here, just in case it helps anyone else having the same issue.  

Issue: While testing the PO approval process, we noticed that the PO Approval has gone to Pre-Approved status after the final approver approved the PO. 

Cause: Workflow Background Process of PO Approval was not running for the Deferred option. 

Solution : Submit the Workflow Background Process for "PO Approval" Item type with Deferred option set to Yes..

After submitting the workflow background job, the PO went to Approved status.

Feel free to point out if anything is missing/wrong in this blog.