Understanding the Bill Approval Process in Float

Float’s Bill Pay system provides a streamlined process for approving or denying bill requests, ensuring efficient financial management and compliance. This guide covers how the bill approval process works, how to approve or deny a bill request, and how bill approval notifications work.

How the Bill Approval Process Works

The bill approval process in Float is designed to ensure that all expenses are reviewed and approved by the appropriate team members before payment. Here’s an overview of how the process works:

1. Bill Submission:
   • A bill is uploaded to Float and saved in the 'Drafts' tab. The bill details are reviewed, and necessary information is added.
2. Approval Request:
   • The bill is submitted for approval by selecting the 'Get Approval' button. This action moves the bill to the 'Approvals' tab and triggers notifications to the designated approvers.
3. Review by Approvers:
   • Approvers receive notifications and access the 'Approvals' tab to review the bill details. They verify the information, ensuring it meets the company’s policies and requirements.
4. Approval or Denial:
   • Approvers can either approve the bill, moving it to the 'Unpaid' status for payment scheduling, or deny the bill, sending it back to the 'Drafts' tab for corrections.
     
     

How to Approve or Deny a Bill Request

Approving or denying a bill request in Float is straightforward. Follow these steps to manage your bill approvals effectively:

1. Log in to Float:
   • Access your Float account and navigate to the 'Bill Pay' section.
2. Access the Approvals Tab:
   • Click on the 'Approvals' tab to view bills pending your approval.
3. Review Bill Details:
   • Click on a bill to open its details. Review the information provided, including the vendor, amount, categorization and any attached documents.
4. Approve or Deny the Bill:
   • To approve the bill, click the 'Approve' button. This action will move the bill to the 'Unpaid' status, where it will be ready for payment scheduling.
   • To deny the bill, click the 'Deny' button. Provide a reason for the denial in the comments section to inform the requester of necessary changes or corrections.
5. Save Your Decision:
   • After approving or denying the bill, save your decision to update the bill's status in the system.

Note: To assign a user as an approver, an admin can take the following steps:

1. Navigate to the 'Settings' section in Float.
2. Select 'Approval Policies' and click the ‘Bill Approval’ tab. 
3. Now assign the appropriate user as an 'Approver' and select users who you would like to be notified of new Bills under your Default Approval policy. If your business is on the Pro Plan or is an Enterprise account, you can create multiple approval policies.

Approvers with the Administrator role can view all bills, even if they are assigned to a different user for approvals. While they cannot approve bills which are not assigned to them, they are able to send these Bills back to the 'Drafts' tab for further review or correction.

Approvers with the Manager role can only view bills which are assigned to them for approval.

Bill Approval Notifications

Float ensures that approvers are promptly notified when a bill requires their attention. Here’s how the notification system works:

1. Email Notifications:
   • When a bill is submitted for approval, approvers will receive an email notification. The email will contain a link that directs the approver to the specific Bill in the 'Bill Pay' section in Float.
2. Slack Notifications:
   • If your organization uses Slack integration with Float, approvers will receive notifications via Slack. The email will contain a link that directs the approver to the specific Bill in the 'Bill Pay' section in Float.
3. Real-Time Updates:
   • Notifications are sent in real-time, ensuring that approvers are promptly informed of pending bills, helping to expedite the approval process.
     
     

How to Set Up Bill Pay Approval Notifications

Ensuring that approvers and users are notified promptly about new bills needing approval is crucial for maintaining an efficient workflow. By default, Float sends notifications via email, and if Slack integration is enabled, notifications are also sent through Slack. Here’s how these notifications work:

1. Email Notifications:
   • Approvers and notified users will receive an email whenever a bill requires their attention. Each email contains a 'View Bill in Float' button. Clicking this button will redirect the user to the bill in Float for review and action.
2. Slack Notifications:
   • If your organization has integrated Slack with Float, approvers will also receive notifications via Slack. Similar to email notifications, Slack messages include a 'View Bill in Float' button, which directs the user to the bill in Float for immediate action.

These notifications ensure that all approvers and relevant users are quickly informed about bills that need their attention, allowing them to take timely action and keep the approval process moving smoothly.

The Bill  approval process in Float ensures timely actions, maintains accurate financial records, and ensures compliance with your organization’s policies.