How to Use Payout Approval Feature?

What is Payout approval feature?

What is the current scope of the Payout approval feature?

Where on the dashboard can the settings be located?

Who can set up the control settings?

What can be configured in the control settings?

What happens if the transaction is made by the person who is the approver?

How to approve the transaction?

What is Payout approval feature?

Fazz Business enables users to initiate an approval process for payment transactions. With the implementation of this functionality, users gain the capability to set transaction amounts and designate approvers for specific thresholds. This improvement guarantees that payment transactions surpassing the defined thresholds necessitate approval from the assigned approvers. This feature empowers clients to exercise enhanced financial control, preventing individuals from unilaterally transferring funds.

What is the current scope of the Payout approval feature?

The payout approval feature is currently available exclusively in the SGD Cash Account.

Where on the dashboard can the settings be located?

Settings (My Account) → Control Settings → Setup Threshold

Who can set up the control settings?

The following roles have the authority to set up, edit, and remove the payout approval control settings:

1. Owner
2. Admin

What can be configured in the control settings?

1. Minimum Amount Threshold

• Any amount equal to or more than this threshold requires approval from designated approvers.
• Amounts below this threshold are processed automatically.

2. Approvers

Approvers can be selected from the following roles:

• Owner
• Admin
• Operation

Note: Approvers must be invited to the dashboard before being designated.

3. Approval Method

• All of the Approvers:
  • The transfer request is sent to all approvers in the list.
  • Approval is required from all designated approvers.
• Any of the Approvers:
  • The transfer request is sent to all approvers in the list.
  • Approval from any one approver in the list is sufficient. If at least one approver approves the transaction, no further action is required from the other approvers.

Note: In case of any rejections, the transfer request will automatically fail.

What happens if the transaction is made by the person who is the approver?

• If the person is the only approver:
  • The transaction will not be approved; it will be processed automatically.

• If the person is not the only approver:

1. 1. If the setting is All of the Approvers:
      • All other approvers, excluding the initiator, must approve the transaction for it to be processed.
   2. If the setting is Any of the Approvers:
      • Any approver, other than the initiator, must approve the transaction for it to be processed

How to approve the transaction?

Step 1: Email notification will be sent to the approvers

Step 2: Navigate to Pay → Pending My Approval Tab

Step 3: Approve the transaction directly from the list table or click on the date to access the transaction details

• Approve the transaction directly from the list table

• Approve from the transaction details page