Controls for approving and making payments – an authorisation matrix, two-person rules, payment run procedure, supplier bank detail change verification and a payment authorisation form – to prevent errors and payment fraud.
Finance & credit control
Payment Authorisation Policy and Approval Limits
About this document
Invoice and payment fraud – especially fake requests to change a supplier’s bank details or urgent payment requests that appear to come from a director – is one of the most common and costly frauds suffered by UK businesses. Clear approval limits, separation of duties and a fixed process for verifying bank detail changes stop most of it. This policy sets those controls out and gives you the forms to evidence them.
The document is laid out in the sections below. Each one comes with a plain-English guidance note explaining what it does and what to change.
Our templates are professionally structured starting points for UK businesses, not legal advice. For anything complex, unusual or high-value, have your final version checked by a solicitor.
Included in the pack
Finance & credit control
for every document in this category
Editable Microsoft Word files
Guidance notes in every document
Written for UK businesses
Download and keep
Need more than one category?
Documents All-Access gives you every category for 12 months for £295.
Compare options →Need it tailored?
We can adapt any template to your business, or write a document from scratch.
Talk to us →
