Transaction Review Policies can be created and edited by Administrators in Float. Review Policies are only available to customers on the Professional Plan. Reach out to support@floatfinancial.com to upgrade!
Default Transaction Review Policy
A Default Transaction Review Policy is already made for you in Float. The Default Policy is set up to not require a reviewer for transaction until edited by an Administrator in Float.
Creating a Custom Transaction Review Policy
Review policies live within your account settings. To create a new review policy:
- Navigate to Settings > Review Policies
- Select + Add Review Policy
- Customize your review policy
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- Add a policy name (e.g. Finance Team Reviews, Sales Team Reviews, etc.)
- Assign this policy to one or multiple Teams. This will determine the approval workflow for transactions to be reviewed within the team.
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- Configure the Review Steps
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- First Level Manager - The direct manager of the employee (or team manager, if a team is selected) computed dynamically based on whose transaction is being reviewed
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Administrator
- Note: You can select multiple users per review step. If more than one reviewer is assigned, the transaction will appear in each of their Needs Review tabs, but only one of them needs to take action. This helps prevent delays when someone is unavailable due to vacation, leave, or departure from the company.
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Review Levels by Amount (Optional)
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- Each Review Policy can be split into different dollar value ranges, and route transactions differently within the ranges and each range is independent from one another.
- Within the review policy editor Click “Add Level” and choose the transaction threshold for this level. You can now select a new reviewer and add a review step for transactions above this amount.
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6. Save
Editing a Transaction Review Policy
- Navigate to “Settings”→ “Review Policies”
- Click "Edit" on the review policy you want to edit.
- Click "Save" on the left side once the changes have been made.
The Default transaction Review Policy can be edited following the same steps listed above.
The updated Transaction Review Policy will apply to any new and posted transaction. Transactions posted before the policy was edited will not be affected by the change.
Auto-Reviews
Auto-reviews happen when a transaction is automatically marked as permitted without needing action from another user.
Transactions may be auto-marked as permitted (approved) if:
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The reviewer is also the spender: If the spender (cardholder) is listed as the only reviewer in a review policy, their own transactions will be automatically marked as permitted.