Nobody changes where your money goes without approval
Vendor Bank Approvals adds a mandatory review step to vendor EFT bank detail changes in MYOB Acumatica. Your team prepares payments. You stay in control of them.
$55,000+
The average cost of a confirmed business email compromise incident: fraud that redirects a legitimate payment to an account the attacker controls.
Source: ASD Annual Cyber Threat Report
The gap in standard processing
In standard MYOB Acumatica, permissions govern who can change a vendor’s bank details, and every change is logged. What it cannot do is hold that change for approval. The new account is simply live in the next payment run.
That makes the control detective, not preventative. Finance can see the account changed, but often only after the payment has left. No one is required to approve the change before it takes effect, and enforced sign-off on vendor payment data is exactly what auditors look for.
What it does
Vendor Bank Approvals puts an approval step between a bank detail change and the money leaving your account. The moment anyone edits a vendor’s details, that vendor is held from payment until an authorised approver signs off.
Your AP team keeps preparing payments as they do today. You gain a control point you can see, enforce, and prove.
Who it’s for
Finance leaders accountable for payment controls, audit, or compliance obligations.
How it works
Automatic payment hold: Any change to a vendor’s bank details places that vendor on hold until approved.
Approval workflow: Authorised approvers accept or reject changes directly from the vendor record.
Status locking: Users cannot reactivate a held vendor to bypass the approval step.
Rejection and reversion: A rejected change rolls the vendor back to the previous bank details automatically.
Automated notifications: Approvers are alerted the moment a change is waiting for review.
What you get
Control you can prove: every banking change reviewed and recorded before it touches a payment.
Real segregation of duties: data entry and approval separated by the system, not just by policy.
A complete audit trail: who changed what, who approved it, and when.
Lower fraud exposure: closes the payment-redirection gap that standard processing leaves open.
Consistent governance: the same rule on every vendor, every time, with nothing to manage manually.
Pricing and setup
Monthly subscription plus one hour of implementation. No new system. No change to how your team works.