[Account Owner] Invoice & Subscription Approvals

Approving Invoices and Subscriptions

Account Owners and their Home Office Admin(s) can review and approve or reject invoices if invoice approvals are required by your firm or a specific Engagement used requires approvals. 

Click here to review information on managing approval email notifications!

Invoice approvals allow you to oversee payment requests that Managing and Standard advisors create for clients. Any invoices that meet the conditions you set will require you or your admin’s approval before being sent to the client.

Approvals for invoices can be turned on or off, under your Firm Settings, Invoice, Invoice Approvals:(toggle the most relevant need for the firm invoice approvals).

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

All relevant invoices, subscriptions, deliverables, and fee escalations will appear here before being published to the client's account under the Pending tab.

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

When click Go to Payment, you'll be sent to the invoice or subscription 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. Esign Documents will be in a tab at the top right of Overview.

What happens when I approve an invoice?

While the invoice 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?

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 an invoice rejection, the advisor will continue to have the ability to edit the invoice. If upon edit your approval is no longer needed on the invoice (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 invoices under  Approvals in your account.

Tip: When invoices, subscriptions, or upfront one-time invoices are rejected, the advisor can delete/cancel the invoices if needed and start over.

Exporting Approvals

Need to see all your approvals, no problem! This can be performed right inside of the Approvals Table but clicking on the top right button:

The report will automatically download to your device and will show the following rows in the report with the data:

The Approvals Export includes:

  • Approval Type (Invoice, Subscription, Deliverable)
  • Status (Approved, Rejected)
  • Advisor Name
  • Advisor Email
  • Client Name
  • Reviewed by Name
  • Reviewed by Email
  • Reviewed Date

📍 More Resources:  A guide for advisors on the invoice approval process

Emails Received when Deliverables are Submitted for the Home Office and Advisors

Email the Home Office will Receive when a Deliverable is Submitted:

Emails Advisors will Receive

Here are a few emails when a Deliverable, Invoice, and Subscription have been approved that Advisors will receive:

This is the email for the approved Deliverable:

This is the email for an approved invoice:

This is the email for an approved subscription :

If any of the approval requests were rejected, they would be stated as denied instead of approved in the body and header of the email.

The ability to Approve or Deny a Deliverable should never show up for archived approvals. All Rejected and Approved invoices will be archived for your review under the Archive tab!

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