How do I set up dual payment approvals?
What is dual payment approval?
If Automated Money Movement is enabled, you can enable dual payment approval control so that 2 payment approvers must provide approval on Carta prior to releasing, providing enhanced control.
How do I set up dual payment approval?
Only firm admin and users who have Payment approval permissions can update payment control settings.
Go to Firm Settings → Settings → People and scroll to the bottom of the page to the Payment approval section to enable dual approver.
Click Edit.
One approver
If 1 approver is selected, then any one of the approvers with payments permission on the people page will be able to approve payments on Carta for automatic processing. The default setting is 1 approver unless specified.
Two approvers
If 2 approvers is selected, Carta will require any two users with payment permissions to review and approve before the payment is processed. Since this feature is set at the Firm level, ensure that there are at least 2 payment approvers with Payment permissions across all entities. Any of the 2 approvers can approve payments in any order.
Two approvers at a specific amount
If 2 approvers at a specific amount is selected, you will be required to select a threshold amount requiring 2 approvers. If the expense request amount is less than the amount specified, then any one of the payment approvers can approve and Carta will process the payment.
If the expense amount is at or above the specified threshold amount, then 2 payment approvers will be required to approve before Carta can automatically process payments.