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Invoice Approval for Australia

Invoice Approval Template for Australia

This document establishes a standardized process for invoice approval within organizations operating in Australia, ensuring compliance with Australian taxation laws, particularly the GST requirements under the A New Tax System (Goods and Services Tax) Act 1999. It outlines approval hierarchies, authority limits, documentation requirements, and control procedures while incorporating provisions for electronic transactions under the Electronic Transactions Act 1999. The template provides a framework for efficient invoice processing while maintaining proper internal controls and compliance with Australian corporate governance requirements.

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What is a Invoice Approval?

This Invoice Approval Template has been developed to establish standardized procedures for processing and approving invoices within organizations operating under Australian jurisdiction. The template addresses the need for systematic invoice review and approval processes, incorporating requirements from Australian taxation legislation, particularly regarding GST compliance and documentation. It includes specific authority levels, approval hierarchies, and control procedures designed to ensure proper governance and risk management. The document is essential for organizations seeking to implement robust financial controls while maintaining efficiency in their accounts payable processes. This template should be used when establishing or updating invoice approval procedures and can be customized based on organizational size, complexity, and specific industry requirements while maintaining compliance with Australian regulatory standards.

What sections should be included in a Invoice Approval?

1. Purpose and Scope: Defines the objective of the invoice approval process and its application within the organization

2. Definitions: Key terms used throughout the document including Invoice, Approver, Delegation Authority, Purchase Order, etc.

3. Roles and Responsibilities: Defines the roles involved in the invoice approval process (e.g., Invoice Processor, Approver, Finance Manager)

4. Approval Authority Limits: Specifies the monetary thresholds and corresponding approval authorities

5. Invoice Processing Requirements: Details the minimum requirements for invoice processing including GST compliance and documentation

6. Approval Process Workflow: Step-by-step procedure for invoice submission, review, and approval

7. Documentation Requirements: Specifies required supporting documents and record-keeping procedures

8. Compliance and Control: Outlines internal controls and compliance requirements for invoice processing

9. Review and Exception Handling: Procedures for handling non-standard invoices or approval exceptions

What sections are optional to include in a Invoice Approval?

1. Electronic Approval Systems: Details specific procedures for electronic invoice processing systems, required when organization uses digital approval workflows

2. International Invoice Requirements: Additional requirements for processing international invoices, needed for organizations dealing with overseas suppliers

3. Delegation of Authority: Procedures for temporary delegation of approval authority, useful for larger organizations

4. Special Category Invoices: Specific procedures for certain types of invoices (e.g., capital expenditure, consulting services), needed based on business nature

5. Emergency Approval Procedures: Special procedures for urgent or emergency situations, recommended for critical business operations

What schedules should be included in a Invoice Approval?

1. Schedule A - Approval Authority Matrix: Detailed matrix showing approval limits for different positions and invoice types

2. Schedule B - Required Invoice Information Checklist: Checklist of mandatory information required on invoices including GST requirements

3. Schedule C - Supporting Documentation Requirements: List of required supporting documents for different types of invoices

4. Appendix 1 - Invoice Processing Flowchart: Visual representation of the invoice approval workflow

5. Appendix 2 - Standard Forms: Standard forms used in the invoice approval process including exception request forms

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Genie AI

Document Type

Invoice Form

Sector

Cost

Free to use
Relevant legal definitions






























Clauses
























Relevant Industries

Financial Services

Manufacturing

Retail

Professional Services

Healthcare

Technology

Construction

Mining

Education

Government

Non-profit

Telecommunications

Energy

Transportation

Real Estate

Relevant Teams

Finance

Accounts Payable

Procurement

Internal Audit

Compliance

Treasury

Operations

Risk Management

Legal

Accounting

Relevant Roles

Chief Financial Officer

Finance Manager

Accounts Payable Manager

Financial Controller

Procurement Manager

Department Head

Budget Manager

Internal Auditor

Compliance Officer

Treasury Manager

Accounting Manager

Operations Manager

General Manager

Company Secretary

Risk Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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