The Invoice Processing App (IPA) is the tool used to annotate and approve invoices. It is a powerful tool that you will use regularly.
- Allows you to use a typical web browser to approve invoices
- Provides all the information you need to match invoices against the instructions your team has given
- Provides all the accounting information you need such as schedules and expense types
- Ensures that invoices are accurately annotated (that everything is complete)
- Allows you to dispute invoices from within the system
The IPA allows different interested parties to collaborate on completing the details of an invoice. The contractor themselves, can complete many of the details about the invoice, the accounts payable department will also complete information – so by the time it reaches you as an approver many of the fields will already be complete.
Please Note: It is very important as a property manager that you raise Work Orders in advance, and raise Contracts for contracted work. If you do this at the time all works are committed to, more data will be available at the invoicing stage and you will have less information to complete.
When raising Work Orders and Contracts you can also complete the schedules and expense types. This again saves time during invoice processing.
Our goals are that with the information before works are commenced and with contractors uploading and annotating each invoice you will only have to confirm the gross price and press approve.
It is therefore a virtuous circle, raise Work Orders at the beginning of the process and make less work for yourself when invoices go through. Electronic processing of invoices will benefit, property managers, accounts departments, and the contractors who will ultimately get paid faster.