Fetching bills
from Receipt Bank
for Xero [BETA]

ApprovalMax For Xero Demo

The direct integration between Receipt Bank and ApprovalMax for Xero allows Receipt Bank to push finance documents like supplier invoices and expenses directly to ApprovalMax for proper authorisation instead of sending them to Xero as drafts.

ApprovalMax runs documents received from Receipt Bank automatically through the predefined review and approval workflow, which is based on approval criteria pulled from Xero (tracking category, supplier, amount, etc.). On approval completion, documents are published to Xero in the "Awaiting payment" status, along with the automatically created audit report.

This is how it works

Pre-accounting
data capture

Bill review, matching and authorisation

Bill "Awaiting Payment"

Receipt Bank needs to be configured to send all digitally captured invoices to ApprovalMax instead of Xero.

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 publishing it to ApprovalMax for authorisation.

Bill review, matching and authorisation

In ApprovalMax, each invoice is routed to the appropriate manager with the specified authorisation level as determined in the approval matrix and the approval workflow.

Bill "Awaiting Payment"

Once approved via the web or mobile app, bills are assigned the "Awaiting Payment" status and published to Xero. A notification about the successful authorisation is sent to the specified email address. A detailed audit report containing the approvers' names and dates etc. is created automatically and attached to each approved document. It can be accessed directly from Xero.

Benefits of the direct Receipt Bank to ApprovalMax integration

Keeping the general ledger orderly

No unauthorised bills in the accounting system as only fully approved bills receive the "Awaiting payment" status and are published to Xero.

Minimising the risk of fraud and human error

Approving bills in Xero incorrectly is impossible because bills are only published to Xero once they've been approved in strict accordance with the approval matrix set up in ApprovalMax.

Specialised workflow for new suppliers (coming soon)

Bills from new suppliers will be identified as such and trigger alerts to the administrators or marking with a flag to raise awareness.

Smart supplier merging (coming soon)

Slightly differing supplier names like "Pepsi" and "Pepsi Inc" can be merged into a single entity for correct spend tracking.

Find more on how bill fetching, review and approval works

Bill review and approval

Read more

Pulling bills from Xero

Read more

Creating bills in ApprovalMax

Read more

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FAQ

What if I have bills or expenses that do not require an approval?+

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 Xero straight away.

What happens with rejected documents?+

Rejected documents need to be resubmitted for approval via Receipt Bank. If necessary, changes to the documents can be made in Receipt Bank.

Will I be able to use other pre-accounting tools with the direct integration between Receipt Bank and ApprovalMax for Xero?+

Yes, receiving bills from Receipt Bank is just one of the available options. Apart from using the Receipt Bank to ApprovalMax direct integration, it is still possible to have ApprovalMax pick up bills from Xero as usual.

Should Receipt Bank be connected to Xero as well?+

No, Receipt Bank is connected to ApprovalMax, and ApprovalMax is connected to Xero. Please note: ApprovalMax needs to be connected to Xero first, before Receipt Bank is connected to ApprovalMax.

Is it possible to push bank transactions?+

No. Currently, workflows that have Receipt Bank connected to ApprovalMax can only process bills.

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