[Account Owner] Invoice, Subscriptions, and Engagement Approvals

Approving Invoices, Subscriptions, and Engagements

Account Owners and Home Office Admin(s) can review and approve or reject invoices if invoice approvals are required by your firm or a specific Engagements require approval.

Invoice approvals enable you to review and approve payment requests that Advisors create for clients. Any invoices, subscriptions, and engagements that meet the conditions set will require your approval or your admin’s approval before being sent to the client.

To review any pending payments, click  Approvals in your sidebar:

All relevant payment requests and fee escalations will appear before being published to the client's account under the Pending tab. You can also search using the Filter option for different types and statuses, or export a report.

Approve or reject payments quickly by clicking its drop-down menu under the Actions column and selecting Approve, Reject, Review, or Go to Payment.

When you click Go to Payment, you'll be sent to the payment request overview screen of the payment, and the details.

When you click Review, you'll see a modal similar to the one below. In addition, any Fee Escalation or Upfront Payment will be included in the Amount area. E-Sign Documents will be in a tab at the top right of the Overview.

What happens when I Approve Invoice, Subscriptions, or Engagements?

While the payment request is awaiting approval, it reflects the Pending Review status and is not visible to the client. 

When approved:

• The advisor will be notified of the approval via email
• The invoice will update to the normal Inactive/Unpaid status
• The invoice will no longer be editable
• The invoice will appear in the client's account for payment

If the original request for payment included the option to email the client, upon approval, the invoice notice will also be sent to the client. If the email option was not part of the request, the client will not be notified.

What happens when I reject an invoice or subscription?

When rejecting an invoice, you are able to provide an optional rejection reason for the advisor. After submitting the rejection:

• The advisor will receive an email letting them know that approval of the invoice was denied -- as well as the reason why (if provided).
• The invoice will reflect the Approval Rejected status 

After a request's rejection, the advisor will continue to have the ability to edit the invoice, subscription, or deliverable (see below for what happens with Engagements). If, upon edit, your approval is no longer needed on the payment request (e.g., the amount is adjusted to less than/equal to the specified approval threshold), it can be sent directly to the client. 

If your approval is still needed, it will be sent back to you for review. You will not receive an immediate email regarding the need for re-approval, but you will receive a daily summary via email every morning at 5 a.m. MST notifying you of pending invoices that require review. You can also view pending items under Approvals in your account.

Note that only select payment requests will appear for approval when they have met their threshold or above. If they are under, they will not be sent to be approval. Thresholds can be added under the Firm Settings, Invoice by the Home Office.

What happens when I reject an Engagement

• The advisor will receive an email letting them know that approval of the Engagement was denied -- as well as the reason why (if provided)
• The Engagement will be deleted and will need to be recreated by the Advisor

Exporting Approvals

Need to see all your approvals, or search for something specific, no problem! Search and export using the Filters :

Export the approvals report by clicking:

The report will automatically download to your device and will show the following columns in the report for all Approval types:

The Approvals Export includes:

• Approval Type (Invoice, Subscription, DeliverableEngagement)
• Status (Pending Approval, Approved, Rejected)
• Advisor Name
• Advisor Email
• Client Name
• Reviewed by Name
• Reviewed by Email
• Reviewed Date
• Engagement ID