Workflow Overview

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Accounts Payable

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Invoice Receipt & Centralizing

  • Invoices arrive via email, document portals, scanned folders, or vendor uploads
  • All vendor and utility invoices are centralized into a single intake system (e.g.,
  • document management folder or accounting workflow tool)
  • Each invoice is assigned a unique identifier for tracking

Workflow Allocation

  • Invoices in the preliminary queue are routed to the correct process workflow
  • Example: maintenance invoices go to “Maintenance” workflow, marketing invoices to “Marketing,” etc.
  • Proper workflow allocation ensures they go to the right approvers and keep processing moving forward

Invoice Review & Coding

  • Examine each invoice for:
  • Completeness (vendor info, amounts, dates)
  • Correct general ledger (GL) coding based on expense type
  • Accurate property and entity allocation
  • If a purchase order (PO) exists, match the invoice to the PO (2-way or 3-way matching where applicable)

Clearing Process Issues

  • Invoices stuck in workflow are identified (e.g., missing PO, mismatched amounts, or other blockers)
  • The AP specialist coordinates with site or operations teams to resolve exceptions
  • Common issues include PO gaps, incorrect workflow assignment, or incomplete approvals

Utility Invoice Processing

  • Utility invoices may be:
  • Already in workflow (auto-routed)
  • Sent via email or downloaded manually from utility portals
  • These are entered, coded, and assigned to workflows for approval and posting

Check/ACH Preparation

  • Once invoices are approved and posted:
  • Checks, ACH batches, or electronic payments are prepared based on vendor terms
  • Payment batches are submitted for final US-end approval
  • Checks are printed or electronic disbursements are executed

Debit/Credit Card Entries

  • Corporate card or debit card transactions are:
  • Entered as GL account charges
  • Matched with receipts
  • Reconciled monthly against bank statements

Vendor Setup & Maintenance

  • New vendors are onboarded into the accounting system with correct master file details
  • Documentation such as tax forms, contact info, and payment preferences are captured

AP Reporting

  • Internal reports are generated to provide visibility and control, including:
  • AP Aging reports
  • Payment status reports
  • Exception and stuck invoice reports

Accounts Receivable

Billing & Charge Setup

  • Rent, CAM estimates, reimbursements, and other recurring charges are reviewed
  • Billing rules are validated against leases and agreements
  • Charges are set up at the property, tenant, and unit level

Invoice & Rent Generation

  • Monthly rent and billing are generated as per lease terms
  • One-time charges (CAM adjustments, utilities, fees) are raised as applicable
  • Invoices and rent charges are reviewed for completeness

Receipt Collection Chennels

  • Payments are received via multiple channels such as:
  • Lockbox
  • ACH / Wire
  • Online portals
  • Checks
  • All receipts are centralized for processing

Cash Application

  • Receipts are applied to open invoices or tenant ledgers
  • Payments are allocated correctly between rent, CAM, fees, and other charges
  • Partial payments and overpayments are identified and handled

Deposit & Ledger Matching

  • Bank deposits are matched with posted receipts
  • Differences between bank deposits and system postings are identified
  • Timing or posting gaps are resolved

AR Aging Review

  • Tenant-wise and property-wise AR aging reports are generated
  • Past-due balances are identified
  • Exceptions, disputes, and unapplied cash are flagged

Issue Resolution & Fololow-Ups

  • Discrepancies such as short payments, incorrect billings, or disputes are reviewed
  • Coordination is done with property management or leasing teams
  • Adjustments or corrections are posted where required

Write-offs & Adjustments

  • Discrepancies such as short payments, incorrect billings, or disputes are reviewed
  • Coordination is done with property management or leasing teams
  • Adjustments or corrections are posted where required

AR Reporting

  • Standard reports are prepared, including:
  • AR aging
  • Tenant balances
  • Cash received summaries
  • Reports are aligned with month-end close and owner reporting

Bank Reconciliation

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Bank Statement Collection

  • Monthly bank and trust account statements are obtained
  • Statements are verified for the correct period and account
  • All active operating, trust, and reserve accounts are identified

Ledger Balance Review

  • General ledger cash balances are reviewed for the same period
  • Prior-period unreconciled items are identified
  • Opening balances are validated

Transaction Matching

  • Bank statement transactions are matched against ledger entries
  • Deposits, withdrawals, ACHs, wires, and checks are reviewed
  • Matched items are cleared in the reconciliation

Identification of Timing Differences

  • Outstanding checks are identified
  • Deposits in transit are listed
  • Timing differences between bank posting and ledger recording are documented

Investigation of Unmatched Items

  • Unidentified withdrawals or deposits are reviewed
  • Duplicate, missing, or incorrectly posted entries are flagged
  • Supporting documents are reviewed where required

Posting Adjustments

  • Necessary correcting entries are prepared and posted
  • Bank fees, interest, or errors are recorded
  • Adjustments are aligned to the correct property and entity

Final Reconciliation Completion

  • Reconciled balances are confirmed between bank and ledger
  • Reconciliation schedules are finalized
  • Supporting documentation is attached

Review & Sign-Off

  • Completed reconciliations are reviewed
  • Exceptions or unusual items are documented
  • Reconciliations are approved for month-end close

Reporting & Carryforward

  • Reconciliation status reports are prepared
  • Open items are carried forward to the next period
  • Reconciliation completion is tracked for all accounts

Month end Close

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Don’t let insurance companies deny your rightful claims. We specialize in resolving every type of insurance dispute with a 95% success rate.

–>

Close Calendar & Cut-Off Alignment

  • Month-end close timeline is defined and communicated
  • Transaction cut-off dates are confirmed
  • Open tasks from prior periods are reviewed

Transaction Finalization

  • All AP, AR, payroll, and bank activity is confirmed as posted
  • Pending invoices, receipts, and accruals are identified
  • Late transactions are assessed for materiality

Bank & Cash Reconciliations

  • All operating, trust, and reserve accounts are reconciled
  • Differences are investigated and resolved
  • Reconciled balances are locked for reporting

Accruals & Adjustments

  • Accruals for expenses and revenues are calculated
  • Prepaids, amortization, and depreciation are recorded
  • One-time or non-recurring adjustments are reviewed

Property-Level Review

  • Property-wise P&L and balance sheet are reviewed
  • Variance checks are performed against prior periods and budgets
  • Misclassifications or anomalies are corrected

Intercompany & Entity Reconciliation

  • Intercompany balances are reconciled
  • Due-to / Due-from accounts are cleared or explained
  • Entity-level balances are validated

CAM, Lease & Revenue Validation (If Applicable)

  • CAM recoveries and accruals are reviewed
  • Lease terms, escalations, and rent schedules are validated
  • Revenue recognition is aligned with lease agreements

Financial Statement Preparation

  • Final P&L, balance sheet, and cash flow statements are generated
  • Supporting schedules are prepared
  • Owner or management reporting formats are applied

Quality Review & Sign-Off

  • Financials undergo internal QC review
  • Exception items are documented
  • Management sign-off is completed

Close Lock & Reporting

  • Accounting period is closed in the system
  • Final reports are shared with stakeholders
  • Open action items are rolled forward to the next month
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