The payment run joins several records that serve different purposes. Keeping the join visible makes exceptions easier to hold without losing sight of approved invoices.
Before the draft
- Use the approved invoice list. Confirm invoice number, payee, amount, due date and evidence of goods or services received.
- Compare with the supplier master. Use the current approved payee record. A PDF invoice or email signature is not the master record.
- Pull out exceptions. Identify duplicates, credit notes, new payees, changed bank details and any invoice with an unresolved dispute.
- Keep a release decision separate. A draft can be accurate without being approved for release. Record who reviews and who authorises the payment file.
When an account change is pending
Hold the affected invoice. Use a pre-existing contact number for a call-back and record the outcome before the supplier master changes. The payment date should be escalated to the owner of the control, not used to skip it. Our bank-change field note sets out the steps.
Ready for review means finance can review the proposed payee details. Hold means a missing check prevents the invoice from moving into a releasable file. Neither status is a payment approval.
Source
The Australian Cyber Security Centre's business email compromise guidance supports independent confirmation of unusual payment requests. Adapt the sequence above to your own approval policy and banking controls.