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Currencies Direct Overview

Introduction

You can fully process, approve and now pay for invoices, all without leaving Zahara! Our new collaboration with Currencies Direct allows your business to manage payments using an efficient new interface.

This guide will demonstrate how our Currencies Direct integration allows you to efficiently handle payments within Zahara, with an overview of the different features offered.

Paying an invoice with Currencies Direct

Once an invoice has been fully approved through a Zahara workflow, it will become available for payment. From here, available invoices can be sent on a payment run, which requests approval for payment from designated users. We have introduced a new workflow which allows you to quickly arrange approvers in the order that best fits, and immediately send multiple invoices for approval as part of a payment run. 

 

Our new notification system allows for approvers to see when they have new invoices for approval; all users will be able to see this at the top of their screen in Zahara.

 

notifications in Zahara

Approvers may then review the invoice and approve for payment. We allow for users to have multiple roles, where a user has both the ‘Approver’ and the ‘Payer’ role, they may immediately proceed to pay for the invoice after approving.

Once an invoice is fully approved, it will no longer be available for any changes in Zahara. The Payer will go into the invoice and select the Currencies Direct wallet they wish to pay the invoice with. Funds cannot be added within Zahara, but you can convert currencies from different wallets. After a final check that the recipient details have all been correctly set, the payment can be sent off to Currencies Direct for processing!

User roles

The new Payments section of the Zahara business settings allows you to grant users access to the right functionality for their assigned role. The available roles are:

  • Preparer– Designating the approvers for the payment, and starting the payment run
  • Approver– Review their assigned invoices and approve or reject for payment
  • Payer– Authenticate any approved invoices, and finally submit the invoice for payment through Currencies Direct

We have created guides on each of these to assist any new user get started with their payment role. We also have two other roles available:

  • Recipient Controller– Manages all recipient details from Currencies Direct, and matches them to suppliers in Zahara
  • Admin– Elevated permissions that allow users to override certain statuses

Recipients

Recipients are how we refer to suppliers that have been set up with Currencies Direct as being able to receive payments. Rather than using the bank details that may have been previously added to a supplier in Zahara, we have added an extra layer of setup and security for recipients to ensure only trusted users are able to create and manage them.

As part of the integration, we have provided functionality to match recipients in Currencies Direct with suppliers in Zahara. This allows for seamless transfers without worrying about whether bank details are synchronised. Users who are granted the Recipient Controller role will be able to perform recipient matching, as well as update bank details.

To quickly match suppliers with the record kept in Currencies Direct, Recipient Controllers can select the Automatically Match Recipients button.

Updating payment details will allow you to set the details used in payment for a supplier in Zahara, while also updating Currencies Direct to reflect this. The second button to Create Recipients will allow you to create new suppliers in Zahara which are then synced across to Currencies Direct- this is particularly useful for users who are new to Currencies Direct. Note that the top two features here require Two Factor Authentication to be set up for the user, as an added layer of security.

The Recipient matching feature allows you to ensure that the Zahara supplier is correctly aligned the record kept with Currencies Direct; this is perfect for making any necessary adjustments from the automatic match.

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