Skip to main content

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

Cash Flow from Operations
Cash flow from operations measures the money a business generates from day-to-day activities, usually over a quarter or fiscal year.
Configure, Price, Quote (CPQ) Software
CPQ stands for Configure, Price, Quote. It's a software application that helps businesses automate the process of generating sales quotes, especially for products or services with various configurations.
Consolidated Invoicing
Consolidated invoicing, also known as centralized billing or grouped invoicing, is a billing process in which multiple transactions or charges incurred over a specified period are combined into a single invoice for payment.
Credit Memos
A credit memo, also known as a credit memorandum or a credit note, is a document issued by a seller to a buyer. It acts like a voucher that reduces the amount the buyer owes.
Current Accounts Payable
Current accounts payable (CAP) is a metric that works alongside current accounts receivable by providing information on your company’s debts. Accounts payable are current liabilities – your business will eventually need to pay its debts, which will result in cash outflow.
Current Ratio
Current ratio is a metric that makes it easier for businesses to understand their ability to deal with short-term liabilities.