Audience: MineralTree Administrator
Summary: Reviews how to configure the payment approval settings within MineralTree
The article covers the following topics:
- Payment approval overview
- Setting up a single approver
- Setting up dual approvers
- Setting limits for approvers
This Payment Approval option is an automatic step that requires an Approver to approve payments above a specified dollar threshold.
Approver and Account Manager accounts are often created during the initial set up of MineralTree. Approval thresholds are also put in place at this time. This indicates which payments will require approval.
These settings are available in the Customer Administrator Application by going to Settings > Manage Company Settings > Payment Approval.
To set someone up as an approver, they must first be designated as a payment authorizer in MineralTree. To do this, they must be added as a user if they are not already in the system.
Next click on "Approval Required" and enter the approval threshold. In the example below, any payment submitted for over $100 will be sent to both Paula and Peter for approval simultaneously. Once one of them approves it, it will be processed.
You are able to set up to two approval requirements based on $ amount. In the example below, any invoice over $100 will only have to be approved by one person. If the invoice is over $500, then both payment approvers will be required to approve before the payment will be processed. By checking the "Send request in sequential order" box, we set a second approver (Paula). With this setup, Peter will receive a notification to approve the payment first, and once he does, Paula will approve next. If the box was not checked, they would both receive notifications simultaneously.
You can set limits for individual approver. If a limit is set, the person will only receive payment approval requests up to that amount, any amount above their limit will not send them a request.