Setting up approval policies for transactions in Finofo helps streamline financial workflows in your organization. You can create policies for five types of transactions:
Payments going out
Currency conversions
Real-time transfers
Withdrawals
Direct debit deposits
Step 1: Define your approval workflow and create approver groups
Start by outlining your approval chain based on your company’s policies. Once you have a clear structure, create an approver group in the Approvers section.
After setting up approver groups, go to the Policies section. Select the type of transaction, set the policy range, and assign the approver group to the policy.
Step 2: Assign executors and activate the policy
Next, review the Executors section and assign the right users. Executors can process transactions that are approved or do not require approval. Once set, the policy will be active, and all transactions that meet its conditions will follow the defined approval workflow.
💡 Tip
Need more help? Don’t hesitate to contact our support team at [email protected].