Build your payment approval matrix.
Set who approves a payment at each amount. Start from a typical setup, adjust the limits and approvers, then download it or print it for your policy.
Set your limits
Start from a typical setup, then change the amounts and who approves. The person who raises a payment (the maker) never approves it.
Payment approval matrix
| Payment amount | Approvals | Who approves | Notes |
|---|---|---|---|
| Up to ₹50,000 | 1 | Checker | Routine payments. |
| ₹50,001 to ₹5,00,000 | 1 | Finance Manager | |
| ₹5,00,001 to ₹50,00,000 | 2 | Finance Manager + CFO | |
| Above ₹50,00,000 | 2 | CFO + Director | Board-level limits may apply; check your policy. |
Every payment is raised by a maker and approved by someone else. The maker never approves their own payment.
Open enforces this matrix on every payment, across every bank, with a full audit trail.
A starting point, not your policy. Have your finance head, auditors and board approve the limits that apply to you. Everything is built in your browser; nothing is sent anywhere.
Questions about this tool
What is a payment approval matrix?
A table that says how many approvals a payment needs and who must give them, depending on its amount. It is the practical core of a payments authority policy.
What is maker-checker?
One person raises (makes) a payment and a different person approves (checks) it, so no one can both create and release the same payment. The matrix assumes this for every band.
Are the starting points my policy?
No. They are typical examples, not recommendations for your company. Your finance head, auditors and board decide the limits that fit your risk and your articles of association.
Can I use it outside Open?
Yes. The spreadsheet and the printed page are yours to use. If you want the matrix enforced on every payment, Open applies approval rules across all your banks and your ERP.
See payments and approvalsIs anything stored or sent?
No. The matrix is built in your browser and nothing you type is sent anywhere.
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