Approving or rejecting purchases is an important function in an expense platform. By creating teams and approval flows, your company gains control over all expenses and avoids surprises at the end of the month.
How to activate approval in Mynt
1. Decide on the number of approvers
Start by deciding what level of approvers you want to have. This is usually determined based on the structure of your organization. A larger company usually has more approvers, while in a smaller company it may be sufficient for the CFO or CEO to be the approver.
2. Create teams and select approvers
Once you know how many approvers you need, you can create teams in Mynt. Log in to Mynt and go to Teams & Cards. Then create teams that suit your organization, such as Finance and IT. Next, select which users will be approvers.
An approver can do the following in Mynt
An approver is responsible for reviewing and approving expenses before they are posted or exported. In Mynt, the approver can:
- Approve transactions directly from the list. When a transaction is approved, it is marked as ready for export to the accounting system.
- Reject transactions if information is missing or if something needs to be corrected. When a transaction is rejected, it is automatically sent back to the person who made the purchase.
- Request additional information by rejecting the transaction. The cardholder then needs to add the missing information or adjust the information before resubmitting it for approval.
This flow ensures that all expenses are accurate, complete, and comply with the company's approval rules before they are forwarded to accounting.
Frequently asked questions and answers about approval in Mynt
What does the approval flow look like before an approver has been assigned?
As long as you do not add an approver, a person who approves or rejects submitted transaction information, all information uploaded on the transactions will be automatically approved and go directly to “ready for export.”
Why are approvers important?
So that each department or team can follow up on their transactions. Approvers are also important for controlling what the company spends money on.
Why can't I send a transaction back?
You can only send a transaction back if it has a selected category. If there is no category, it is not possible to return the transaction to the cardholder for completion or editing. Therefore, check that the transaction is categorized before attempting to send it back.
How do I keep track of expenses?
As an administrator, you can track and analyze all expenses using Mynt's analysis tool. The tool is available in the menu on the dashboard when you are logged in to Mynt's web portal and provides a clear overview of transactions, cost trends, and spending patterns at both the company and card levels.
How can I see who made a transaction?
Log in as an administrator at mynt.com and go to All expenses. There you will see all transactions along with information about which card user made the purchase. This makes it easy to follow up on costs and ensure correct allocation of responsibility.
