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Introduction
Invoice Approvals
Invoice Approvals is a mechanism in the invoice workflow where you can delegate specific groups of users to certain limits of authority (LOA) on which invoices they can approve. These limits are implemented around certain key invoice data fields.
Financial Control in VIP
The Financial Control setup form allows you to define rules around how many approvals different invoice types need, who can perform those approvals, and in what order, for specific invoice types. When determining whether an invoice is ready to post or requires approval, VIP will find matching rules based on defined criteria and the data within the invoice.
In the Financials module menu, under Setup, select Financial Control.
The Financial Control setup form displays one invoice approval or one group of AR/AP invoice approvals at a time. To see everything, you can look at the Financial Control List (in the Financials menu under Setup), and the Report Designer.
The Financial Control setup form is best suited for data entry and review of individual invoice types, while lists and reports are better suited for an overview.
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Recommended Setup
Here’s an overview of best practices for setting up the rules. For detailed instructions on how to add each rule, refer to the next section.
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To add an invoice approval restriction, navigate to the Financial Control setup form under Setup in the Financials menu. Then,:
Select the Invoice Type you would like to set up rules for
Select Add New Row.
Enter the Amount From and/or Amount To for this rule (always in Base Currency for the environment).
Select a Trade Area, Line of Business (LOB), Claim Type, and User Group if needed, these are all optional.
If the Invoice Type is Voyage Other Expense, Voyage Other Expense (Rate), Voyage Other Revenue, or Voyage Other Revenue (Rate), you can also select Ledger Codes.
If the Invoice Type is Claim Invoice or Claim Payment, you can also select a Claim Type.
Enter all User Group(s) who need approval rights for this rule, whether they need to be the 1st, 2nd, or 3rd approval.
Enter the # of Approvals for this rule (or leave blank - in which case configuration flags described in the section below will determine this number).
If relevant, specify which User Group(s) (which are narrowed to the group(s) you entered a couple steps ago) in each of the Approval #1, #2, and #3 Groups fields
If no groups are entered in the specific Approval #s fields, any member of any group in the User Group(s) field will be able to do each approval
An example of this: perhaps a bunker invoice over $500k needs to be approved first by a member of the Operations group and then by a member of the Operations Management group. If this is the case, enter both “Operations” and “Operations Management” in the User Groups field. Then, enter only Operations in the Approval #1 field and only Operations Management in the Approval #2 field.
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If a numeric field on the form is blank, it means there is no limit. It is not the same as zero. For example, if Amount From/To set to (blank) and $50 respectively - it means that the rule applies to all negative amount invoices and all positive amount invoices less than $50. If Amount From/To set as $0 and $50 respectively - it means that it applies only to all positive amount invoices less than $50. |
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Approval Status, Approval User and Approval Date always refers to the “last approval”.
Approval Status can be blank (if invoice has not been approved yet by anyone) - or a numeric value (“1”, “2”, “3” etc.- which refers to the number of approvals on the invoice) or “A” for the fully approved invoices (when we reach the required number of approvals for the invoice).
Approval Status 2, Approval User 2 and Approval Date 2 would be the “first approval”.
Approval Status 3, Approval User 3 and Approval Date 3 would be “second approval”.
We do not keep track of approvals beyond third - and any subsequent approval after third will just update Approval Status, Approval User and Approval Date as the “last approval”.
Additional Information
Invoice Approvals
Invoice Approvals is a mechanism in the invoice workflow where you can delegate specific groups of users to certain limits of authority (LOA) on which invoices they can approve. These limits are implemented around certain key invoice data fields.
Financial Control in VIP
The Financial Control setup form allows you to define rules around how many approvals different invoice types need, who can perform those approvals, and in what order, for specific invoice types. When determining whether an invoice is ready to post or requires approval, VIP will find matching rules based on defined criteria and the data within the invoice.
In the Financials module menu, under Setup, select Financial Control.
The Financial Control setup form displays one invoice approval or one group of AR/AP invoice approvals at a time. To see everything, you can look at the Financial Control List (in the Financials menu under Setup), and the Report Designer.
The Financial Control setup form is best suited for data entry and review of individual invoice types, while lists and reports are better suited for an overview.
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