Payment authorization workflow in the Finance app progresses requests to authorize balances through a defined approval hierarchy.
This allows you to ensure that rebate payments above a specified value are approved by executive levels or other teams before each payment is released. Alternatively, payment authorization may be used to partially authorize a portion of a payment, for example if debts are yet to be cleared by a customer.
This article will guide you through:
- Starting the payment authorization workflow
- Authorizing a payment
- What happens once I approve a payment?
- What happens once I reject a payment?
- Stopping a payment
Looking for something else?
- Need to set up approval roles before using the payment authorization workflow? Learn how to configure workflow here.
- Alternatively, learn more about the Finance app here.
Starting the payment authorization workflow
Once payment authorization workflow has been configured, users within the workflow role who have been given access to start workflow will be able to see the Authorize button within Payment allocation.
To start the payment authorization workflow:
Step 1: Click on Finance in the green banner at the top of the page and click on Payment allocation.
Note: If you are unable to see the Finance menu, a channel admin user may need to provide you with the correct user permissions.
Step 2: Use the search filters on the right of the screen to narrow down the list of program lines displayed. Tip: If you are unable to see the filters, you may need to click Show search in the top right corner.
Step 3: Click the Authorize button.
Step 4: Click to select the relevant program line. Note: A program line can only be selected if it has a Balance due value (displayed in the final column in the payment allocation report).
Step 5: Click to select the payment line(s) you wish to authorize. Alternatively, click the Select all button to include all visible payment lines with an outstanding balance due. Tip: Select individual payment lines to partially authorize a balance for the program line.
Step 6: Review the To be authorized column. By default, the full amount stated will be authorized. To change the amount to be authorized, hover over a value in this column and click on the pencil icon to type a new value. Click on the checkmark to save the new amount to be authorized.
Step 7: Click the Continue button.
Step 8: Select a Payment method from the drop-down menu, and type any optional notes.
Step 9: Click the Confirm button.
The next user in the workflow will receive an automated email asking them to accept or reject the payment, alongside a link in the email to navigate the user directly to the payments area.
Authorizing a payment
When a payment reaches you in the workflow, you will receive an automated email asking you to accept or reject the payment. This email includes a link to navigate directly to the payment line to be authorized.
Alternatively, to review the payments requiring your approval, click on the Trading programs menu and Workflow inbox.
Once you have clicked on a link from a notification email or the workflow inbox, to authorize a payment:
Step 1: Review the payment information within the Allocated payment lines. Tip: Click on arrow to the left of the payment line row to expand additional details.
Step 2: Click on the Approval tab to review any Notes added by other users, alongside any history of the payment’s authorization. Tip: Hover over the name of a user within a workflow role to display if the user has approved the payment, as well as the date and time the authorization occurred.
Step 3: Click either the Approve or Reject button.
Step 4: A pop-up box will be displayed asking you to confirm your decision. If applicable, enter details of your reason. The notes entered here will be visible in the Payment history as well as the Payment workflow.
Step 5: Click the Confirm button.
What happens once I approve a payment?
If you have approved the payment and additional steps exist in the workflow, automated emails will be sent to the next users for approval.
If you have approved the payment and are the last user in the workflow, the payment will now be complete.
What happens once I reject a payment?
If you have rejected the payment, the proposal's workflow status will change to Draft. This means the proposal can be edited, and the workflow has been restarted. Your rejection reason will be recorded in the payment line.
Stopping a payment
Users with Edit permissions for the Finance app can stop a payment without being in a workflow step.
To stop a payment or the payment workflow:
Step 1: Locate the payment line via either the Payment history or Payment workflow tab.
Step 2: Click on the row to view the Allocated payment lines or Approval tab.
Step 3: Click on the Stop payment button.
Step 4: Enter a reason for stopping the payment, then click the Confirm button. The workflow will be stopped, and the notes entered here will be visible in the Payment history.
What’s next?
Interested in viewing year to date values from authorized balances of payment lines? Learn how to use the authorized balances snapshot (ABSNAP) here.
Keen to automate a report of authorized balances? Learn more about the daily authorization extract here.