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Approving a receivable transaction

Any newly created or modified batch transaction must be approved. The maker-checker concept is followed for approving a transaction. A checker with the relevant rights can approve a new or modified transaction.

If the transaction is set for auto-approval for certain limit of amount, the transaction does not require approval.

To approve a receivable transaction

1.     Navigate to Receivables.

2.     Click Receivables Center. The Summary page lists the existing transactions.  

3.     Select the required transaction from the summary list.

4.     Click Approve. The transaction is set for next process.

5.     Click Send to send the transaction to bank for further processing.

Send action is based on the bank setup and can be automated. Once approved the transaction is automatically sent to the bank.

·        You can approve a batch transaction with Submitted status only.

·        After approval, the batch transaction can be viewed in the respective summary list page with the status as Approved.

·        You can also reject the batch transaction using the above method. Select the transaction and Click Reject.