Proposal Summary
This proposal outlines the plan to implement an approval workflow for Credit Card Charges in NetSuite for Advantmed. The goal is to ensure that all credit card transactions are reviewed and approved before they are posted, thereby enhancing financial controls and reducing the risk of unauthorized or erroneous charges.
Requirement from Advantmed
Advantmed aims to implement an approval workflow for Credit Card Charges, ensuring that transactions are posted only after receiving approval. Assess the feasibility of this implementation and submit a detailed solution to the client.
Deliverables
- Create a Custom Record:
- Develop a custom record similar to the Credit Card Transaction record in NetSuite.
- Custom Field for Status:
- Add a custom field to track the status of the Credit Card Charge with possible values such as Pending Approval, Approved, and Rejected.
- Custom Field for standard Credit Card Transaction:
- Add the standard Credit Card Transaction record
- Initial Status:
- When a new credit charge is created in the custom record, the status is automatically set to Pending Approval.
- Approval Process:
- The approver will review the custom record and either approve or reject it.
- Roles for Approval:
- The following roles can approve the custom record:
- Advantmed LLC – Accountant
- Advantmed – Senior Accountant
- Administrator
- Advantmed – Controller
- Handling Rejections:
- If the record is rejected, the status is updated to Rejected.
- Users with the following roles can resubmit the record for approval:
- Advantmed LLC – Accountant
- Administrator
- Creating Standard Credit Card Transaction:
- Upon approval, the approved custom record will trigger the creation of a standard Credit Card Transaction record.
- Linking Records:
- Create a custom field to track the Credit Card Transaction record in custom record.
- The newly created standard Credit Card Transaction record will be linked to the custom record for reference, and the custom record will be locked (it cannot be edited after approval).
Assumptions
- It is assumed that the roles mentioned (Advantmed LLC – Accountant, Advantmed – Senior Accountant, Administrator, Advantmed – Controller) have the necessary permissions to access, approve, and manage the custom record and related Credit Card Transactions.
- The status of the custom record will automatically update based on the approver’s actions (e.g., setting to Approved, Rejected, or Pending Approval).
- Upon approval, the system will automatically create a standard Credit Card Transaction record without requiring further manual input.
- Once the custom record is approved and the standard Credit Card Transaction is created, the custom record will be locked from further edits, preventing any post-approval changes.
- The data entered in the custom record will be accurate and complete, ensuring that the creation of the standard Credit Card Transaction is based on valid information.
Risks
- If roles are not correctly configured, unauthorized users might approve or reject records, or authorized users may be unable to perform necessary actions.
- If the custom record is not properly locked after approval, there is a risk of unauthorized changes being made to the record, affecting data integrity.
Estimated Effort
Estimated Effort – 30-man hours.
Estimate assumptions
- The estimate includes Project management, risk analysis, system analysis, development, unit testing, regression testing, documentation, and deployment.
- The rate is calculated based on our master service agreement.
- The implementer expects the client to sign off or report bugs within 7 days of UAT submission in Sandbox. If no feedback is received, the work will be considered approved, and an invoice for 30 hours will be issued.
Validity of this proposal
7 days from the date of submission.