ApprovalMax provides workflow automation for bills to fully replace paper- or email-driven approval routing and establishes granular financial controls for any kind of spending accounted for in Xero.
Regardless of how bills appear in ApprovalMax, they are automatically routed through a multi- step and multi-role approval process based on predefined criteria such as supplier, amount, GL code, tracking category, etc.
Once reviewed and authorised, bills are pushed to Xero in the "Awaiting Payment" status along with the audit reports automatically attached to them.
No more missed, duplicate or unauthorised payments
Single point of truth for all bill-related authorisations
Approval process automated and kept on the surface
Shared accountability with clients when making payments
Improved real-time data quality and forecasting
Facilitated audits, less preparation time, more transparency
Bill fetching
Bill to purchase order matching
Bill review and coding
Multi-step and multi-role authorisation
Approved bill
Bill fetching
Fetching bills for review and approval can happen in different ways. The most common one is where ApprovalMax pulls all bills in the "Awaiting Approval" status from Xero. Another option is the direct integration between Receipt Bank and ApprovalMax, which enables Receipt Bank to push bills directly to ApprovalMax instead of Xero.
Bill to purchase order matching
For all bills with a corresponding purchase order there is the option to match bill and purchase order in ApprovalMax, which includes copying certain information such as the bill's coding from the original purchase order. This step is optional.
Bill review and coding
The review and potential changing of a bill's coding by an authorised user - who holds the reviewer role - ensures correctness of the finance coding and spend allocation.
Multi-step and multi-role authorisation
The automated approval workflow routes bills through a multi-step and multi-role authorisation process which is based on one or several criteria pulled from Xero, such as supplier, amount, GL code and tracking category.
Approved bill
Once fully authorised, bills are pushed to Xero in the "Awaiting Payment" status. An audit report that captures the authorisation history is created automatically.
As ApprovalMax is pre-integrated with Xero, it works seamlessly with all data entry apps from the Xero ecosystem (Hubdoc, Receipt Bank, AutoEntry, Datamolino and EzzyBills) as well as virtually any method or combination of methods to create bills in Xero. This includes the ApprovalMax capability for bill creation and Xero's functionalities Email-to-bill and Copy-from-PO.
Having passed the ApprovalMax review and approval process successfully, bills are pushed to Xero in the "Awaiting Payment" status with a complete audit log securely attached.
No, bills in Xero with the "Awaiting Approval" status do not affect the general ledger. Therefore, it is safe to push them to Xero in this status even though they have not yet been fully approved.
Yes, approvers will be able to see both the original invoice and its digital copy in a side-by- side view for an easier review process.
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