Segregation of duties is important for any business, but even more so as your company grows.
The delegation of work allows everyone to be more efficient, meaning the right skill levels can undertake the appropriate tasks and the company to continue to grow.
Approval Max is a Xero add on that allows the delegation of the purchasing and sales side of your business.
Staff can create purchase orders, which then pass through the bespoke approval matrix to ensure the purchase order is reviewed and approved by the right member of senior staff. Any changes can be done by the reviewer, or send back to the creator.
These can then seamlessly be emailed directly to the supplier from within Approval Max.
Once the invoice has been received from the supplier and posted onto Xero (we recommend using Receipt Bank for purchase invoice capturing) as ‘awaiting approval’ then Approval Max passes the invoice through your approval matrix to ensure the appropriate member of staff is reviewing and approving the purchase invoice.
You can also match the purchase invoice to the approved purchase order.
This is then moved to ‘awaiting payment in Xero’.
There is a similar process for sales invoices, where the Sales Order can be raised in Approval Max, reviewed by the appropriate member of staff and then emailed to the customer, all the while pushing this to Xero.
Approval Max will maintain an audit trail throughout, giving transparency to management.
For more information on Making Tax Digital, Cloud Accounting or any other aspect of Online services please see our Cloud Accounting page here.