Spending limit and approval limit in Microsoft Dynamics 365 Finance and Operations apps

Spending limit and approval limit in Microsoft Dynamics 365 Finance and Operations apps

spending limit is the maximum amount that a worker is authorized to spend on business-related purchases. example, a person may be allowed to stay in a hotel of $300 per night

e.g. one can spend only $300 per night and can claim same

approval limit is the maximum amount that a worker is authorized to approve for a specific business document. 

e.g. if the person is allowed to approve amount till $500 only; if amount goes above that it has to be approved by someone else