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Invoice Approval Workflow

What is an Invoice Approval Workflow?

An invoice approval workflow is a structured process that governs the review, verification, and approval of invoices within an organization before they are paid. It ensures that invoices are processed accurately, in compliance with company policies and procedures, and that appropriate authorization is obtained before making payments to vendors. Within NetSuite, invoice approval workflows can be built, managed, and edited with ZoneApprovals, a native SuiteApp.

Related terms

Advanced Billing
Advanced billing refers to sophisticated billing practices or capabilities that go beyond basic billing functionalities to address complex billing scenarios, accommodate specialized pricing structures, and support advanced revenue recognition requirements.
Advanced Electronic Bank Payments
Advanced electronic bank payments typically refer to sophisticated electronic payment methods and systems that enable businesses to execute various types of transactions with their banks electronically, often leveraging advanced technologies and automation capabilities.
Advanced Inventory
Advanced inventory refers to a comprehensive and feature-rich inventory management system or module within an enterprise resource planning (ERP) software or inventory management software.
Annual Contract Value (ACV)
Annual Contract Value (ACV) is a metric used to assess the average yearly revenue generated by a single customer contract. It helps businesses understand the annualized worth of their customer base, focusing on recurring revenue streams.
Automated Clearing House (ACH)
An Automated Clearing House (ACH) is an electronic network that facilitates the transfer of funds between bank accounts in the United States (and internationally with some variations).
B2B Payments
B2B payments, short for Business-to-Business payments, refer to financial transactions that occur between companies. This is distinct from B2C (Business-to-Consumer) transactions where businesses sell goods or services directly to individual customers.