Approval Hierarchies
In a company, managing the approval of certain transactions is crucial to proper handling.
Approvals help ensure that the right person approves a vendor invoice before payment is made, or that more than one person approves a purchase order. Managing the approval process preserves data quality and reduces the risk of fraud.
Maconomy addresses the need for approval Steps with approval hierarchies. An approval hierarchy is a set of rules determining who can approve transactions (an expense sheet, a purchase order, or a vendor invoice and assigned allocation lines that match certain conditions) and the creation of or updates to master data. It provides flexibility by allowing you to customize the approval process.
Hierarchical approvals involve multiple users as part of the approval process according to a specified order. For example, if you set up three levels or hierarchies for a transaction, the users are prompted to give their approval in the order that they are specified in those levels.
If approval steps must vary between companies in a multi-company set-up, create separate approval hierarchies as needed.
You may opt to apply approval hierarchies only to specific transactions or types of master data. Even if you do not use customized approval hierarchies, each transaction or type of data must go through a specific approval procedure.
Approval hierarchies can be applied to the following types of transactions and master data:
- General journal line and header
- Purchase order line and header
- Expense sheet line and header
- Vendor invoice line and header
- Job Draft invoice header
- Job budget header
- Job quote header
- Time sheet line and header
- Vendor
- Company vendor
- Customer
- Company customer
- Employee
- User information
- Related Topics:
- Time & Expense Sheets
If you have configured approval hierarchies for header or line approval on either time or expense sheets, the setup of supervisor and project manager approval on a job has no effect. - Jobs
The approval of jobs is similar to the functionality for approving new customers and vendors. - Job Quotes
Companies can set up approval hierarchies for job quote headers. - Automatic Approval for No Specified Approvers
Maconomy allows companies to use approval hierarchies with no specified approvers. - Specify Messages on Approval Hierarchy
You can define a custom message for Maconomy to display if users select a specific approval hierarchy during the approval process. - Specify Unchanged Line Reapproval Requirements
Maconomy’s existing approval hierarchies functionality allows you to set up reapproval procedures for changes to master data and transactions. - PO Invoice Margin Tolerance
You can set up controls so that users cannot submit a vendor invoice for posting if its invoice allocation lines exceed the remaining amount in the relevant purchase order. - Approval Hierarchy Configuration Health Check
The Approval Hierarchy configuration health check allows users to check and verify the setup of Approval Hierarchies with the use of a script that runs queries in the database.