Receipt Bank is directly integrated to ApprovalMax to provide bill processing and approval solution for QuickBooks Online. All supplier invoices that have been digitally captured by Receipt Bank can go directly to ApprovalMax for multi-step and multi-role authorisation.
Approval routing takes place according to the predefined review and approval workflow, which is based on approval criteria pulled from QuickBooks Online, such as vendor, amount, class, category. On approval completion, documents are published to QuickBooks Online ready for payment, along with the automatically created audit report.
Receipt Bank needs to be configured to send all digitally captured invoices to ApprovalMax instead of QuickBooks Online.
Pre-accounting data capture
After extracting the relevant invoice data, Receipt Bank enters the information into the bill fields and attaches an invoice scan to the digital invoice copy before pushing it to ApprovalMax for authorisation.
Bill review and authorisation
In ApprovalMax, each invoice is routed to the appropriate manager with the specified authorisation level as determined in the approval matrix.
Once approved via the web or mobile ApprovalMax app, bills are published to QuickBooks Online. A notification about the successful authorisation is sent to the specified address. A detailed audit report containing the approvers' names and approval dates is created automatically and attached to each approved document. Such automatic audit trail can be accessed directly from QuickBooks Online.
Keeping the general ledger orderly
No unauthorised bills in the accounting system as only fully approved bills are published to QuickBooks Online.
Minimising the risk of fraud and human error
Approving bills in ApprovalMax ensures that only authorised people review and approve the spending.
Completely paperless workflow
Data automation and approval process automation ensure there are no manual interventions or paper trails.
Fully digital workflows enable remote collaboration for geographically distributed teams and teams working from home.
No problem, you can still use the Receipt Bank to ApprovalMax configuration. The approval workflow in ApprovalMax can be set up in a way that individual documents which don't need to go through an approval process are identified as such and published to QuickBooks Online straight away.
Rejected documents need to be resubmitted for approval via Receipt Bank. If required, changes to the documents can be made in Receipt Bank.
No, Receipt Bank is connected to ApprovalMax, and ApprovalMax is connected to QuickBooks Online. Please note: ApprovalMax needs to be connected to QuickBooks Online first before Receipt Bank is connected to ApprovalMax.
Not yet. Currently, workflows which include the Receipt Bank to ApprovalMax integration can only process bills.
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