What is a Beneficiary Account Approver?
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. An Invoice Contact is a person who ensures that an invoice is submitted to an upstream contractor for payment. In Procore, an invoice contact is always an employee of the designated 'Contract Company' on a purchase order or subcontract. The contract company is the party responsible for performing work and/or supplying materials for a project. For customers in the United States using Procore's Progress Billings tool, this term is synonymous with progress billing contact. 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.
The Verification & Approval Workflow
To enhance security and mitigate the risk of payment fraud, Procore Pay has implemented a rigorous multi-step verification process.
Initial Screening: Once a payee adds or updates a bank account, Procore automatically screens the account to confirm the name matches, the account is active, and it is capable of receiving funds.
Micro-Deposit Initiation: After successful screening, the account status will update to "Micro-deposit in progress." Procore will then initiate small credit transfers to the beneficiary's account.
Security Validation: Once the funds settle, the Payor must perform due diligence to confirm the account:
Standard Method: Contact the subcontractor directly (via a known, trusted phone number) to request the exact micro-deposit amounts.
Alternative Method: If micro-deposits cannot be verified (e.g., for subcontractors previously paid through the system), the last four digits of the account number may be used for verification.
Final Approval: After confirming the account details, a Payments Admin or Payments Beneficiary Approver must manually "Approve" the account in the Payments tool to enable disbursements.
Later, as part of the standard invoice process, administrators can continue to invite downstream contacts to submit their invoices through the Commitments tool.
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.