Once invoices have been pushed from Receipt Bank to Xero, they can be approved in ApprovalMax. You can implement multi-step approval workflows based on specific criteria for particular users in your Organisation. This way, all Invoices and Purchase Orders can be approved outside of Xero.
Both Receipt Bank and ApprovalMax are pre-integrated with Xero. A typical flow looks like this:
Receipt Bank > Xero > ApprovalMax > Xero.
This is how it works:
Invoices are first scanned in Receipt Bank and then published to Xero (in either
"Draft" or "Awaiting approval" status — this is set up in
If they are published as "Draft", an accountant needs to click on
"Submit for approval" in Xero for ApprovalMax to pick them up.
they are published as "Awaiting approval", ApprovalMax will
automatically pick them up within 30 minutes and start the pre-defined approval
workflow for them. This is usually the best time to do Bill review
and coding as the Approvers will have the required business knowledge
and authority to add the appropriate account and tracking category parameters.
Next, a multi-step approval workflow is initiated by
ApprovalMax and approval requests are routed to the designated Approvers. Approval routing rules are specified in the approval matrix by
the Administrator. Approvers are notified about pending approval requests
by email and push notifications via the smartphone app. Approval
requests can be decided straight from the email notification, through the web
platform, and via the mobile apps.
In every approval step, an
audit report is created with approval-related data, such as times, dates, and Approvers' names as well as their comments, if any.
Once the approval workflow is completed, the
approved documents are marked as "Authorised" in Xero and their status changes from "Awaiting approval" to "Awaiting payment".