Accounts payable with value-based approval
The laboratory sets the approval rules for accounts payable: above which amount approval is required, how many levels there are and who approves. This helps separate small expenses from those that need more attention.
What you'll find in this area
Approval above an amount.
Bills above the set amount require approval. Below another amount, they can be approved automatically, depending on the setup.
One or two levels.
Approval can have one or two levels, with approvers defined by group.
Whoever creates does not approve.
With the segregation rule on, whoever entered the bill cannot approve it. The rule is optional and comes switched off.
Recurring bills.
Rent, software and other fixed expenses generate the next bills at the chosen frequency, up to an end date or count.
Installments or partial payment.
A bill can be split into installments and settled one installment at a time, or receive partial payments against the total amount. The two modes cannot be combined on the same bill.
Bulk and scheduled payment.
Several bills can be paid at once, and payment can be scheduled with a date and bank account.
Correction by reversal.
A payment recorded by mistake is reversed with a required reason, and the reversal stays in the bill's history.
Classification from the supplier.
Financial nature, cost center and P&L category can come from the supplier record, which reduces reclassifying every invoice.
Records that support payments
Besides the list of bills, the module has the records used in day-to-day payments.
Bank accounts.
Accounts registered as the source of payments and the base for bank reconciliation.
Corporate cards.
Cards registered to record where each payment came from.
Payment terms.
Cash, on terms or in installments, according to the registered terms.
Frequently asked questions
How does value-based approval work?
You set the amount above which approval is required, the amount below which the bill is approved automatically, the number of levels and the approver groups.
Can I stop the same person from creating and approving a bill?
Yes. The segregation rule prevents whoever created the bill from approving it. It is optional and must be turned on in the setup.
Do I have to enter fixed bills every month?
No. A recurring bill generates the next ones at the chosen frequency, up to the end date or count you set.
How do I fix a payment recorded by mistake?
The payment is reversed with the reason given, and the reversal stays in the bill's history.
See finance with your laboratory's routine
In the demo, we show a completed work order reaching billing, accounts receivable and the management view. We also check which tax routines and integrations apply to your case.