Step-by-step vendor approval workflow in Sage Intacct

By Cathy Harris 

How often do you add new or update vendors in Sage Intacct? Wouldn’t it be helpful to approve them so they don’t slip through the cracks when they need to be put “On hold” or “Don’t pay”? 

Create awareness and better controls of your payables by using this simple, yet valuable vendor approval feature.

Let’s get started!

1. Create new vendor

   

2. In the additional info tab, click “On hold” and “Don’t pay.”

   

3. In the Workflow Status tab, there are custom fields. When adding the new vendor, select Vendor Status as “New-For Review,” and then fill in your name in the Last Created/Updated By field and add the date created.

   

4. Optional: You can tag the approver in Intacct Collaborate so that the approver gets an email notification saying they need to approve this vendor.
5. Save the vendor. Since the vendor is on hold and marked for “Don’t pay,” you cannot process bills and payments for the vendor.
6. The approver can create a view or Dashboard component to show vendors for approval.

   

   

7. The approver can then open the vendor in Edit mode from the List and review the vendor. Once approved, go to the Additional information tab to take Vendor off  “On hold” and “Don’t pay” status.  
8. Click on Vendor Status to select “New-Approved” and enter “Last Approved by” and Last Approved Date:

   

• Optional; the approver can tag you in Intacct Collaborate so that you get an email notification saying the vendor has been approved.
• The approver can save the vendor record. The audit trail will show the workflow status changes. (Note that in the image below, the user would really be the approver, but I had to test under my login ID for both steps.)

  

9. This vendor would then fall out of the Vendor for Approval List and Dashboard component.
10. The same workflow can be applied for updates, but the status “Updated-For Review” and “Updated-Approved” can be used instead. The “Updated-For Review” status will pull the vendor into the View and Dashboard for the list of vendors for approval.
    With additional SmartRules, we can make sure the user checks “On hold” and “Don’t pay” with a status of “New-For Review” or “Updated-For Review,” and the approver unchecks “On hold” and “Don’t pay” with the status of “New-Approved” or “Updated-Approved.”

Sage Intacct workflow

Hopefully this article has cleared up questions you had about Sage Intacct’s vendor approval process. If you’re interested in more Sage Intacct articles or webinars, look no further! We frequently hold Sage Intacct tutorials and webinars, including our quarterly “Elevate Your Sage Intacct” webinar series. Click here to view upcoming webinars, and click here to view past webinars.

To read more technology-focused articles, click here.