Put simply, by building a specific approval workflow for vendor bank accounts, the app puts controls on any changes to bank account details and stops any unapproved vendor bank accounts being used for payment journals and payment file exports.
Approval Workflow – You will find that a specific workflow template has been built for vendor bank account approvals. Also, you will notice that this template will provide you with a standard process of approvals through the use of Direct Approver, Specific Approver or Approver Group.
Limit Changes – After the vendor bank account is approved, the system will automatically limit any changes to certain fields such as account code, branch number, IBAN and Swift codes until the bank account card is reopened. This means that any changes made to the bank details will need to be checked and approved.
Use Approved Only – You will find that only the app admin is able to decide on whether or not to stop using unapproved vendor bank accounts from the payment runs or payment file exports.
Ability To Track Changes – Through the use of a single click allows you to change the log for vendor bank accounts to follow changes to certain fields, who and when the change was made and what the value was before the change. As well as this, you can access such changes from the vendor bank account directly.
Stop unapproved changes to vendor bank accounts & stop unapproved banks in payment runs.
Have full control over your bank account changes through approvals & have quick access to the change log.
Have the power to easily monitor and review the status of any approvals across the business.