Approving Payments Questions for Payment Assistant
Note: Payment Assistant™ is currently in Limited Availability (LA). Are you interested in participating? Apply to join our LA group. During this time, we'll review and implement participant feedback to prepare for general availability.
How do we handle the validation of who's signing checks?
We are saving you time and effort by writing checks to vendors for you, so some processes may require adjustments. For example, if you require validation on who signs the checks to vendors, you may want to make that person who validates a payment run approver.
Before signing up for Payment Assistant, we recommend you discuss the workflow with your auditor or other key financial people at your organization. We provide a single-tier approval process that is permission controlled within Financial Edge NXT. We have separate permissions for who can create payment runs and who can approve them.
Offline processes can still be used for more visibility, like having multiple signers on a pre-payment report.
Can we have more than one approver?
Yes, you set up Payment Assistant to use multiple approvers and multiple tiers. To set up your approvals, see Approval Tiers for Payment Assistant
When are invoices marked as paid?
Invoices are marked as paid when the payment run is approved and turned over to Payment Assistant to complete the payments. When payment runs are approved is also when the funds are withdrawn from your bank account.
Can creating and approving payment runs be done by the same person?
While we recommend a separation of duties, we know that it's not always feasible at organizations. You can assign permission to create and approve to the same person.
Do approvers need to have access to Financial Edge NXT?
Yes, all people in your organization who need to participate in the Payment Assistant workflow, need to have their own Financial Edge NXT user account.