NetSuite feature enables us to require that specific purchase and expense transactions are approved before processing.
We can create an approval hierarchy and set approval limits for each level. The approval hierarchy applies to all payment file administration records generated through both standard processing and advanced batch processing.
To require payment batch approval routing, enable electronic payment preference and complete approval setup fields for each company bank account.
Enabling the approval routing
- Navigate to Payments -> Setup -> Electronic Payment preferences
- Click Edit
- Check ‘EFT Payment Batch Approval Routing’ under General preferences
- Click Save. Click OK.
Setup approval routing for bank
- Navigate to Payments -> Setup -> Bank details
- Click Edit beside the bank we want to set up approval routing for.
- Click on the Approval Routing subtab.
- Select approval type- approval routing triggered by each bill amount, each vendor total, or total batch amount.
- Enter the payment limit above which approval routing be triggered
- Select level – 3 levels available
- Select payment approver (each level can have more than one approver, but only one is required to approve the payment)
- Select the payment approval limit for this level (the payment approval limit for the last approver must be blank; if the approval limit is blank, the approver can approve any amount).
Note: Above steps are to be repeated for each bank with approval routing requirements.