AP Invoice Management: Route for Approval
Invoice workflow is automated, based upon the parameters you set up.
Automatic approval routing
Once a submitter routes an invoice for approval, ExpenseWatch.com automatically sends emails to notify approvers that they have items in the system needing their attention. Links embedded into the email take approvers directly to the waiting items. Managers can log in from anywhere in the world via the Internet to review and approve an invoice, streamlining the approval process.
Invoice Approval Process
ExpenseWatch.com provides multiple options for automated invoice approval workflow. Quick Approve enables you to quickly approve invoices with one click. When you interrogate an invoice you easily see if policy is being followed and can approve/reject the entire invoice or reject/approve line-by-line. The audit trail will indicate when Quick Approve is used to maintain compliance integrity. Approvers may “delegate” approvals to others when they will be out of the office and unavailable.
Final review process & compliance assurance
Once invoices are approved, they are sent to accounting for a final review before a payment request is processed. This step is a cornerstone of compliance to regulatory mandates.
Typically, someone from your company’s accounting or accounts payable department controls the review by double checking line items on the invoice, ensuring quantity, business unit, general ledger account and price are correct.
Once this final review is complete, you have completed the invoice management life cycle and are ready to send the invoice to your accounting system and process it for payment.
