Payment Approval Stages: A suggested approach - Finance Role

Tasks

• Receives batch approval notification
• Checks the bank account on transaction matches the bank account on entry
• Ensure adequate funds available in bank account
• Approves this stage of the batch
• Posts batch
• Creates and uploads ABA / BPAY file to bank (this step assumes banking integration is implemented)

Permissions - Approval Stage

The "Finance" approval stage is added to the Approval Workflow in the Application Settings.

Once you have implemented this workflow will affect all payments for the "applies to" type.

The security role that applies to this role (Static Data > Job Security Settings)

 

Notes

• The “Approve no limit” and "Approve with Limit” applies to the Final Authorisation Stage (regardless how you name it)
  
  
• After the final batch approval stage an email will be sent to users in the batch post role. Once the batch is posted the transaction will appear in the cash book.

Permissions

Batch posting

Grant permissions to post batches after approval. 

Upload

Grant permission to prepare and upload files. This can be a separate user but under this scenario the "Finance" role is prevented from Edit Bank Details, so there is a separation of duties between entering bank account details and checking and sending the file.

Must not have permission to change the bank account details of a transaction, a Counterparty or employee.

Creating / Uploading the bank file

When the payment file is uploaded to the bank an email dialogue will pop up allowing you to select a user who has "authorise payments online" rights. That user will receive the online authorisation alert:

See: Sending upload files to the bank