Dual Approval is crucial online control for many businesses in relation to payroll outsourcing, but many employers don’t know what it is and how it can protect their company payroll.
What is it?
As the name would suggest, dual approval is a control that requires the independent authorisation or two separate people within an organisation to authorise the release of the funds once you are happy with your payroll.
Two approaches to dual approval
There are two ways that we can set up dual approval. The ‘maker and checker’ approach involves an initial sign off from someone in the payroll team, at which point a secondary sign off is required at HR/Finance management or director level to ensure that the funds can be released to pay your employees.
Alternatively, the ‘two sets of eyes’ approach ensures that at least two separate people have independently reviewed the payroll and are happy for the funds to be released to pay your employees.
Why is it important?
Everybody makes mistakes, no matter how clever, trusted or senior. Both the maker-checker and two sets of eyes approaches helps to spot things that appear strange or incorrect. It helps to protect your business as well as your employees from making unintended errors.
How does it work?
Dual Approval is quick and easy to set up at no additional cost for any of our payroll outsourcing clients. Dataplan Payroll can fully customise the functionality to give you the ability to configure the process flow and approvers to meet the individual needs of your business.
Contingency planning is important so if an approver is absent or on holiday, you are able to nominate a pool or checkers and approvers to ensure the dual approval process can always function.
The process is fast, secure and can be accessed through your desktop, tablet or mobile phone.