✅ Approval Workflow - Complete Guide
Almost everything in the system that involves money or sensitive data goes through an approval process. This ensures proper checks, prevents errors, and creates an audit trail. This guide explains the complete approval workflow in detail.
🤔 Why Do We Need Approvals?
| Reason | Explanation |
|---|---|
| Prevent Errors | A second person reviews before money moves |
| Security | No single person can complete a financial transaction |
| Audit Trail | Every action is recorded with who did what and when |
| Compliance | Meets regulatory requirements for financial companies |
🗺️ The Complete Approval Flow
flowchart TB
subgraph "Who Creates Requests?"
OP[👤 Dashboard Operator]
CU[📱 Customer via App]
end
subgraph "What Goes Through Approval?"
R1[💰 New Investment]
R2[↔️ Redemption]
R3[🔀 Transfer]
R4[🔄 Rollover]
R5[👤 Profile Change]
R6[📄 Document Upload]
end
subgraph "Approval Queue"
PQ[📋 Pending Queue]
end
subgraph "Who Approves?"
MG[👨💼 Manager/Approver]
end
subgraph "Possible Outcomes"
AP[✅ Approved]
RJ[❌ Rejected]
SB[↩️ Sent Back]
PA[☑️ Partially Approved]
end
OP --> R1 & R2 & R3 & R4
CU --> R2 & R3 & R5 & R6
R1 & R2 & R3 & R4 & R5 & R6 --> PQ
PQ --> MG
MG --> AP & RJ & SB & PA
📝 Types of Requests That Need Approval
1. New Investment (Allotment)
| Aspect | Details |
|---|---|
| Who Can Create | Dashboard operators with investment creation permission |
| What's Reviewed | Customer, Series, Amount, Investment Date |
| Checks Before Approval |
|
| What Happens on Approval | Folio number generated, investment record created, customer notified |
2. Redemption (Early Exit)
| Aspect | Details |
|---|---|
| Who Can Create | Dashboard operators OR Customers via mobile app |
| What's Reviewed | Folio, Reason, Payout calculations |
| Checks Before Approval |
|
| What Happens on Approval | Investment marked as redeemed, payout processed, customer notified |
3. Transfer
| Aspect | Details |
|---|---|
| Who Can Create | Dashboard operators OR Customers via mobile app |
| What's Reviewed | Source customer, Destination customer, Folio, Reason |
| Checks Before Approval |
|
| What Happens on Approval | Investment ownership transferred, both parties notified, interest rate may adjust for senior citizen status |
4. Rollover
| Aspect | Details |
|---|---|
| Who Can Create | Dashboard operators only |
| What's Reviewed | Source series, Destination series, Amount to rollover |
| Checks Before Approval |
|
| What Happens on Approval | New investment created in destination series, old marked as rolled over |
5. Profile Change
| Aspect | Details |
|---|---|
| Who Can Create | Customers via mobile app |
| What's Reviewed | Changed fields, before/after values, supporting documents |
| Fields That Need Approval |
|
| What Happens on Approval | Profile updated, customer notified |
6. Document Upload
| Aspect | Details |
|---|---|
| Who Can Create | Customers via mobile app |
| What's Reviewed | Document clarity, validity, matching with profile |
| Checks Before Approval |
|
| What Happens on Approval | Document updated, KYC status may change |
📋 How to Process Approvals (For Approvers)
Finding Pending Approvals
- Look at the Approvals menu in sidebar - the badge shows pending count
- Click to open the Approvals page
- You'll see tabs: Pending | Pending for Edit | History
Reviewing a Request
flowchart TD
A[Click on Request Card] --> B[Side Panel Opens]
B --> C[Review All Details]
C --> D{Is Everything Correct?}
D -->|Yes| E[Click Approve]
D -->|No - Minor Issue| F[Click Send Back with Note]
D -->|No - Cannot Fix| G[Click Reject with Reason]
D -->|Bulk - Some OK| H[Approve Good Items, Reject Bad]
E --> I[Request Completed ✓]
F --> J[Returns to Creator for Editing]
G --> K[Request Closed ✗]
H --> L[Partial Completion]
Step-by-Step: Approving a Request
- Open: Click on any request in the Pending tab
- Review Summary: Check customer name, amount, series, dates
- Review Details: Scroll through all fields in the side panel
- Verify Documents: If documents attached, click to view/download
- Make Decision:
- Approve: If everything is correct
- Reject: If request cannot be fulfilled (must add reason)
- Send Back: If minor corrections needed (creator can fix and resubmit)
- Confirmation: System shows success message, request moves to History
🔄 Request Lifecycle
stateDiagram-v2
[*] --> Pending: Request Created
Pending --> Approved: Approver Approves
Pending --> Rejected: Approver Rejects
Pending --> SentBack: Approver Sends Back
SentBack --> Pending: Creator Resubmits
SentBack --> Cancelled: Creator Cancels
Approved --> [*]: Complete
Rejected --> [*]: Closed
Cancelled --> [*]: Closed
Status Meanings
| Status | What It Means | What Happens Next |
|---|---|---|
| 🟡 Pending | Waiting for approver to review | Approver will approve, reject, or send back |
| 🟠 Sent Back | Needs corrections from creator | Creator fixes issues and resubmits |
| 🟢 Approved | Request was accepted and executed | Action complete, customer notified |
| 🔴 Rejected | Request was declined | No action taken, creator notified with reason |
🔔 Who Gets Notified?
| Event | Who is Notified | How |
|---|---|---|
| Request Created | All users with approval permission | Dashboard badge updates |
| Request Approved | Creator + Customer | Email, SMS, App notification |
| Request Rejected | Creator + Customer | Email, App notification with reason |
| Request Sent Back | Creator only | Email, Dashboard notification |
❓ Common Questions
Who can approve requests?
Only users with the appropriate approval permission. This is usually Managers or Admins. You can check your permissions in your profile.
Can I approve my own request?
No. The system requires a different person to approve for security reasons (this is called "maker-checker" principle).
What if I approve by mistake?
Contact your administrator immediately. Some actions can be reversed, but this requires a new request or manual intervention.
Why is my request still pending?
Approvers may be busy or may need additional information. If it's urgent, contact your approver directly or through chat.
How long does approval take?
Depends on your organization. Most requests are processed within 24 hours on business days.
💡 Best Practices
For Creators (Operators)
- Double-check all amounts before submitting
- Attach clear documents when required
- Add notes explaining unusual requests
- Respond quickly to "Sent Back" requests
For Approvers (Managers)
- Process pending approvals at least twice daily
- Always add a reason when rejecting
- Use "Send Back" instead of "Reject" for fixable issues
- For bulk requests, review each line item carefully