Receipt Bank to ApprovalMax integration for QuickBooks Online [BETA]
This functionality is currently in beta. If you’d like to enable it for your ApprovalMax organisation, please contact us at beta-support@approvalmax.com or submit a form on our website.
ApprovalMax and Receipt Bank have teamed up to provide fully automated AP processing for QuickBooks Online.
The recently released integration between Receipt Bank and ApprovalMax for QuickBooks Online enables the combination of award-winning pre-accounting capabilities delivered by Receipt Bank with best-in-class approval automation by ApprovalMax.
From data capture to bill approval, the process is completely paperless: all supplier invoices that have been digitally captured by Receipt Bank go directly to ApprovalMax for multi-step and multi-role authorisation. Approval routing is performed automatically according to the predefined review and approval workflow.
This solution works for bookkeeping and accounting practices as well as individual businesses who use the digital data capture tool Receipt Bank.
This is how it works
The award-winning pre-accounting tool Receipt Bank automatically extracts key data from invoices and receipts, and sends this information to ApprovalMax.
ApprovalMax then takes care of bill review and approval automation across multiple authorisation levels. Bills only enter QuickBooks Online after they have been fully approved, ensuring data security and minimising the risk of fraud or human error.
Bill review and approval process
As soon as bills appear in ApprovalMax, they’re routed automatically through a multi-step and multi-role approval workflow that is based on predefined criteria pulled from QuickBooks Online; such as vendor, amount, category, class, location.
The approval workflow is set up just the once when the organisation starts using ApprovalMax, so requesters don’t have to remember who they need to send their bills to, or do any additional manual work when they submit a bill. Everything is routed automatically, with automated reminders being sent instantly to the respective approvers. Setting up an approval workflow in ApprovalMax is easy, yet ApprovalMax can process workflows with any level of complexity because it allows the setup of rule-based conditional, sequential and parallel approvals as well as a flexible definition of approver roles.
Approvers even can view and authorise bills on the go using the ApprovalMax mobile app, which shows all decision-relevant information. Alternatively, they can choose to approve using the web interface or from email.
Once reviewed and authorised, bills are pushed to QuickBooks Online ready for payment. As part of the approval process flow, ApprovalMax generates for processed finance bills an audit trail that contains all authorisation decisions and exceptions that have occurred as well as comments, delegations, rejections and other details. On completion of the approval workflow, an audit report is created for and attached to every approved document. Both will be kept in the accounting system, where the audit reports can be viewed without having to log into ApprovalMax.
Ready to try the end-to-end accounts payable automation solution for QuickBooks Online? Contact us at beta-support@approvalmax.com or submit a form on our website.