Audience: MineralTree Administrator
Summary: Reviews how to configure the payment approval settings within MineralTree
The article covers the following topics:
- Payment approval overview
- Setting up a single payment approver
- Setting up dual payment approvers
- Setting limits for payment approvers
Payment approval overview
The Payment Approval option is an automatic step that requires a Payment Approver to approve payments above a specified dollar threshold.
Approver and Account Manager accounts are usually created during the initial setup of MineralTree. Approval thresholds are also defined at this time, which determine which payments require approval.
These settings are available in the Customer Administrator Application by navigating to: Settings > Manage Company Settings > Payment Approval
Setting up a single approver
To set someone up as an approver, they must first be designated as a Payment Approver in MineralTree. If they are not already in the system, add them as a user.
Next, click Approval Required and enter the approval threshold.
Example: Paula and Peter are both Payment Approvers with no limits. If Approval Required is selected and $100 is entered in the “single approval required for payments more than” field, any payment over $100 will be sent to both Paula and Peter for approval simultaneously. Once one of them approves it, the payment will be processed.
Setting up dual approval
You can set two approval thresholds based on dollar amount.
Example:
- Paula and Peter are both Payment Approvers with no limits.
- Paula is designated as the second approver.
- Approval Required is selected, and $100 is entered in the “single approval required for payments more than” field.
- $500 is entered in the “dual approval required for payments more than” field.
- The Send request in sequential order box is checked.
With this setup:
- Peter receives the first notification to approve the payment.
- Once Peter approves, Paula receives the second notification.
If the Send request in sequential order box is not checked, both approvers receive notifications simultaneously.
Setting limits for approvers
You can set limits for an individual approver.
If a limit is set, the approver will only receive payment approval requests up to that amount. Requests above their limit will not be sent to them.