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Payment Approval Workflow Set-Up Template for Accounting Firms [Free]

Carissa Tan
Carissa Tan
March 7, 2023
Payment Approval Workflow Set-Up Template for Accounting Firms [Free]

The payment approval workflows client set-up template that every accounting firm needs [Free template] 

While technology plays a vital role in streamlining and automating a payment approval process, it is only half the battle when it comes to successfully setting up approval workflows with clients.  

The other half required for success?  

Effective communication and collaboration with your clients.

This involves understanding and outlining payment preferences, deadlines, budget, and internal protocols of each client, in order to minimise misunderstandings and delays in the approval process.  

But when you’re under a time crunch or operating with limited resources, it can be hard to ensure all bases are covered with every client in the very first instance of implementation.

To help take this stress away, we've created a free template covering 10 questions that you can send out to your clients to answer for effortless implementation.

How to use Paytron’s Payment Approval Workflows Client Set-up Template

The following sections will show you how to use the template:

About Paytron’s Payment Approval Workflows Client Set-up Template

This template serves to help your accounting firm easily collect all the information required prior to helping your client implement a payments approval workflow. In the excel sheet, there are 4 TABS for clients to fill out covering 10 questions you can ask your clients. Feel free to edit, add or remove the questions listed if you already have the answers to them.  

How to use this client set-up template:

• Duplicate a copy of this template for your client > File > Save As > Enter in a new file name, preferably title it to your client's company name for easy organisation  

• Open the new copy > click on "How to use this template" sheet > right-click and hit "Delete"

• Make any changes you'd like to this template before sending it off to your client to fill in  

• TIP 💡: Upload this file into Google Drive, or SharePoint to allow your client to edit it easily in the Cloud. This will save you from having to exchange file attachments via email whenever there are updates. You and your client can interact in real-time by giving them edit access.

Here are the 10 questions we cover in our free client set-up template:

  1. Who are the people within the company that will need to be involved in approving a payment?  
  1. With the list of people involved, what is the order in which an approval passes through to each person and what are the conditions? (e.g. Approvals start with every team manager before being passed to the Finance Director. And the CFO is only involved in approvals if the payment value exceeds $20,000)
  1. Are there any specific deadlines or timeframes for payments that you need to adhere to?
  1. How would you like to receive approval reminders? And does it differ within different stakeholders in the company?
  1. Is there a designated point of contact within your company in the event a high priority case requires expedited approval?
  1. How are conflicting approval requests handled in the company?  
  1. What is your preferred method of payment for bills?
  1. Do you have a set budget or spending limit for your invoices?  
  1. Do you have any specific requirements or preferences for how payments are processed (e.g. electronic transfers, physical checks)?
  1. Are there any risks or issues that you have experienced in the past with payments or invoicing that we should be aware of?

Don’t forget to set regular check-ins with your client

After the payment approval workflows are implemented, maintaining regular ongoing communication with clients will help identify and address any issues or concerns that arise and ensure that the workflow is running smoothly. Through doing so, firms can build trust and foster positive relationships with their clients, which is essential for maintaining long-term business partnerships.  

Offer your clients shared visibility with Paytron

Paytron is a powerful payable automation and spend management platform simplifying the way accountants and businesses manage transactions from bill/receipt capture to local and international payments, employee expenses and more. With Paytron you can set up individual access with roles like view, edit, or approve to suit your operational needs across each client.  

By working in the same platform as your clients, you can approve and process payments without the need for ABA bank files, excel spreadsheets or screenshots. Everyone will always know where each payment is, who it’s sitting with and when it’s getting paid. The best part? With Paytron’s Advanced approvals feature, you and your clients can save even more time with customisable approval automations and leave repetitive, manual work behind.  

Payment Approval Workflow Set-Up Template for Accounting Firms [Free]
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Carissa Tan
March 7, 2023

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