What is ApprovalMax Pay?

What is ApprovalMax Pay?

ApprovalMax Pay is a new add-on that enables users to manage payments securely in one place. It uses the open banking technology to pay approved Bills directly from ApprovalMax.

With built-in approvals and audit trails, ApprovalMax Pay reduces the risk of fraud and costly mistakes while ensuring full visibility and tight control.

ApprovalMax Pay is currently available to businesses, accountants and bookkeepers in the UK that use Xero.

This is how you set up ApprovalMax Pay
  1. Start by connecting a Bank Account in ApprovalMax to your open bank account (currently, we only support payments within the United Kingdom).
  2. For further reconciliation purposes, match your connected bank account to your bank account in Xero.
  3. Grant access permission to the Contact Details section.
  4. In the next step, add the Contact payment details in ApprovalMax. 
    Such payment information includes the recipient's bank details, which are matched to the Contact that is used for payment transactions in ApprovalMax Pay.
  5. Set up a Batch Payment workflow via ApprovalMax Pay.

This is how it works
  1. First, create a Batch Payment for Bills whose due dates are within a close range.
    You can review, sort and approve Batch Payments with just a few clicks.

    Once a request has been submitted for approval, it will run through the predefined approval workflow, and the respective Approvers get notified.
  2. When all approvals have been collected, the Batch Payment is ready for payment by authorised Payers: log in to your banking app with ApprovalMax Pay and confirm the payment.
  3. The Payment will be created in Xero and automatically reconciled once a bank feed is imported into Xero.
For more details, please watch our video.
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