CommissionTrac can automate a Voucher Approval Process to ensure that all the necessary reviews and checks are in place before a Voucher is submitted as Active and the corresponding Receivables Ledger is built.
Setup Voucher Approval
From the Settings menu, click Company Settings
Click on Voucher Approval Tab
Click on Activate Voucher Approvals toggle box to open setup options
Use the drop-down pickers to designate up to 4 levels of Approvers for your business’ approval process.
Only users with the permission level of manager and bookkeeper will be available to select as Approvers
Multiple users can be designated in each level if desired, this would allow all Approvers in a specific level to approve in no particular order. Voucher would move to the next level of approval process once any of the users have approved*
Turn on inside agent approvals to force all inside agents on the deal to approve the voucher before it moves on to the selected Approvers. If user sending voucher is an approver, it will not require inside agent approvals*
Note: Inside Agents on the Voucher are considered Level 1. Submitting a Voucher equates to the Submitter’s Approval
Click save to activate your Voucher Approval Process
Submitting Vouchers through Approval Process
When users create vouchers with the Voucher Approval Process turned on the ‘submit voucher’ option is labeled ‘Send for Approval'
When a voucher is submitted for approval it first goes to all other inside agents on the deal (Level 1) if Inside Agent Approvals is turned ON
Other inside agents will get an email alerting them that a voucher is submitted for their approval
To approve a voucher the agent must log into CommissionTrac, open/edit the voucher to review, and click Approve or Reject as appropriate
- No edits can be saved to the voucher at this stage. If an agent finds an issue with the voucher they must reject it rather than edit itIf a user clicks Reject they will be prompted to enter a comment explaining the rejection
Once all inside agents on the deal approve the voucher (submitting is considered approving for the originating agent), it will go to the Level 2 Approver(s) (an email will be sent)
Level 2 Approver logs into CommissionTrac to review voucher. At this level the Approver can override and make edits to the voucher, then Approver clicks Approve or Reject accordingly. If the user clicks Reject they will be prompted to enter a comment explaining the rejection. Approvers can also edit the voucher and select "Save Changes" to leave the voucher as Pending while still being able to make changes*
If a Level 3 is set up, an approved Voucher will now go to the Level 3 Approver via email notification
Level 3 Approver logs into CommissionTrac to review voucher. At this level the Approver can override and make edits to the voucher, then Approver clicks Approve or Reject accordingly. If the user clicks Reject they will be prompted to enter a comment explaining the rejection
If a Level 4 is set up, an approved Voucher will now go to the Level 4 Approver via email notification
Level 4 Approver logs into CommissionTrac to review voucher. At this level the Approver can override and made edits to the voucher, then Approver clicks Approve or Reject accordingly. If the user clicks Reject they will be prompted to enter a comment explaining the rejection
When the final Approver approves the Voucher it is saved as Active and the Voucher will have a Receivables Ledger with all charges showing.
All Voucher Approval related activity will be logged in the Voucher Activity Log so that anyone can check on progress by looking in the Activity Log
Override Voucher Approval
Bookkeepers in the approval process have the option to use the Actions Menu on the Voucher list to select Override Approve or Reject. Approving will override any remaining steps in the Voucher Approval Process and set the Voucher to Active. Rejecting will prompt the Bookkeeper to enter a comment explaining the rejection.
