Add Payments Beneficiary Approvers
In Procore Pay, a Payments Beneficiary Approver is a user who has been granted permission to approve and manage beneficiary accounts in the Company level Payments tool. Approving a beneficiary account provides payees with the ability to receive payments.
To learn more about the Payments Beneficiary Approver role:
What is a beneficiary account?
In Procore Pay, a beneficiary account is a bank account where money is held by a financial institution and controlled by the payee. This is the 'Pay To' bank account.
How are beneficiary accounts added to Procore Pay?
When using Procore Pay to pay a A Subcontractor Invoice is a request for payment submitted by a business or individual who has entered into a binding agreement with another contracting party. In Procore, a subcontractor invoice is an equivalent term for a payable invoice. An Invoice Administrator is a person or group of people responsible for collecting, reviewing, and creating invoices in Procore. An invoice administrator can be any person in your organization (for example, a project manager, an accountant, or a team of bookkeepers) who have been granted the appropriate permissions to manage invoices on your contracts and/or fundings. 請求書送付先は、請求書が支払いのために上流請負業者に提出されていることを確認する人です。Procore では、請求書送付先は常に発注書または下請契約で指定された「契約事業者」の従業員です。契約会社は、プロジェクトの作業の実行および/または資材の供給を担当する当事者です。Procore の未成工事支出金請求書ツールを使用している米国内の顧客の場合、この用語は未成工事支出金請求書送付先と同義です。 In Procore, a Commitment is a purchase order or subcontract. Both commitment types are contracts that represent a legally enforceable financial agreement between two parties. In Procore Pay, a payee is a specialty contractor who receives invoice payments from a general contractor. Also called a beneficiary. In Procore Pay, a beneficiary account is a bank account where money is held by a financial institution and controlled by the payee. This is the 'Pay To' bank account.
An alternative method for inviting payees to join Procore Pay is also available in the Beneficiaries tab of the Payments tool. With this method, a In Procore Pay, a Payments Admin is a designated Procore user who administers the Company level Payments tool for that company's Procore account. Typically, one (1) or a small number of trusted users are designated to perform the tasks associated with this role. In Procore Pay, a Payments Beneficiary Approver is a user who has been granted permission to approve and manage beneficiary accounts in the Company level Payments tool. Approving a beneficiary account provides payees with the ability to receive payments.
After adding a beneficiary account, a Payments Admin or a Payments Beneficiary Approver for the In Procore Pay, a payor is a general contractor who sends invoice payments to specialty contractors.
How is the Payments Beneficiary Approver role assigned to Procore users?
There are two (2) steps:
Mark the user as an employee in the Company Directory. See How do I add someone as an employee of my company?
Add the user as an approver. See Add a Payments Beneficiary Approver as a Payor.
What additional permissions do Beneficiary Approvers require?
A Beneficiary Approver must be granted 'Read Only' level permissions or higher on the Company level Directory tool.
Do Payments Beneficiary Approvers require Multi-Factor Authentication (MFA)?
Yes. Users in this role are required verify their identities before gaining access to Procore Pay and before performing sensitive transactions. To learn more, see Why is MFA mandatory for Procore Pay and how does it work?
Who can be a Payments Beneficiary Approver?
Any Procore user, except a Payments Admin or Payments Disburser, can be granted the Payments Beneficiary Approver role. Note that a user can only be assigned one Procore Pay role, meaning a user cannot be both a Beneficiary Approver and a Disburser.
Who are my company's Payments Beneficiary Approvers?
As a general contractor using Procore Pay, ask one of your company's Payments Admins about your Payment Beneficiary Approvers. Your Procore Administrator can identify the admins for your team by adding them to the 'Project Team' section on each project's Home page. For details, see Add the Project Team to the Project Home Page.