Summary: Signature Approval is an optional step in the invoice action item that will allow Invoices to be stopped for one final level of approval. This step is often utilized by a CFO or upper level management who may want to see invoices before payment is issued, particularly if an invoice is above a certain dollar threshold.
The Signature Approval settings and thresholds are configured on the Association -> Settings page, under the AP Payment section. Your Signature Approval settings can either follow your model setting, which is your company default, or you can override those model settings on the association-level so that each association can have it’s own policy.
The Electronic Signature setting allows you to define whether checks will be printed with or without an electronic signature and whether the invoices will stop at the Signature Approval screen.
“All Checks (Electronic Secondary Signature Approval)” means that All checks will be printed with an electronic signature.
If “All Checks (Electronic Secondary Signature Approval)” is selected, you can use the Signature Threshold settings to define the threshold on and over which invoices will be flagged for requiring Signature Approval.
For example: “All Checks (Electronic Secondary Signature Approval)” with a Signature threshold of $500 would mean that all checks under $500 would skip the Signature Approval step and be printed with an electronic signature. In this scenario, all invoices over $500 would stop at the Signature Approval step for final approval, after which, they will also be printed with an electronic signature.
***Note: If no threshold is desired, enter an amount in the Signature Threshold field that will not be exceeded by any invoice. Ex. $10,000,000.00.
The “Checks Under Signature Threshold Only” setting will always skip the Signature Approval step. If this setting is selected, the amount entered in “Signature Threshold” will determine whether the checks get printed with or without an electronic signature.
For example, having the Electronic Signature field set to “Checks under Signature Threshold Only” with a Signature Threshold of $0 would mean that no invoices will stop at the Signature Approval step, and they will all be printed without signatures.
Setting “Checks under Signature Threshold Only” with a Signature Threshold of $500 would mean that no invoices will stop at the Signature Approval step , and only checks under $500 will be printed with an electronic signature.
***Note: If no threshold is desired, enter an amount in the Signature Threshold field that will not be exceeded by any invoice. Ex. $10,000,000.00.
ACH payments are handled a little bit differently.
Any invoices to be paid via-ACH which are over the threshold will be flagged and stop at the signature approval step. This means that when your Electronic Signature settings are set to “Checks under Signature Threshold Only,” any ACH payments which exceed the threshold will stop at the Signature Approval step
Invoices that are flagged as requiring Signature Approval can be reviewed and approved from the Accounting -> Signature Approval page.
This page allows users to review the details of each invoice, view the invoice image and click the dropdown arrow to verify the GL information. You can view invoices for a single association or you can click on the association name to select All Associations and view all invoices in the signature approval step at the same time. Select the invoices you would like to approve and click the Approve button.
Clicking Decline will either void the invoice or step the invoice back in the process for further review, based on your Invoice action item configuration.
*Please keep in mind that only those users with the role assigned to the Signature Approval step of the Invoice action item will have access to the Signature Approval page.*
Once your invoices have passed Signature Approval, they will move to the Ready for Payment step where they can be paid, and printed or sent via-ACH.
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